Small Caps Extend Record Run, GE Vernova Rallies: What's Moving Markets Wednesday?

U.S. stocks edged higher Wednesday ahead of the highly awaited Federal Open Market Committee decision, with investors broadly expecting a third straight 25-basis-point rate cut.

The Fed will also release updated macro projections, including a new dot plot outlining policymakers' preferred rate path. Economists warn that while a December cut appears likely, officials may adopt a more cautious stance heading into 2026, opening the door to a prolonged pause.

The Dow Jones rose 250 points, or 0.5%, to 47,810. The small-cap Russell 2000 extended its record run, up 0.3% to 2,535. The S&P 500 and Nasdaq 100 were little changed as traders awaited the Fed's statement and earnings from Oracle Corp. (NASDAQ:ORCL) and Adobe Inc. (NASDAQ:ADBE) after the bell.

GE Vernova Inc. (NYSE:GEV) was the day's standout performer, jumping 14% after the company raised its outlook during Tuesday's Investor Day.

Uber Technologies Inc. (NASDAQ:UBER) lagged the most within the S&P 500, sliding more than 5% after a 3.8% drop on Tuesday as regulatory pressure in Europe intensified and Morgan Stanley trimmed its price target.

Silver's blockbuster rally accelerated, pushing the metal to $61 an ounce. It is now up 112% year-to-date, on track for its strongest annual performance since 1979. In cryptocurrencies, Bitcoin (CRYPTO: BTC) slipped 0.6% to $92,000, while Ethereum (CRYPTO: ETH) rose 1% to $3,350.

Wednesday's Performance In Major US Indices, ETFs

Major Indices	Price	% Change
Nasdaq 100	25,613.51	-0.2%
S&P 500	6,846.38	0.1%
Dow Jones	47,785.09	0.5%
Russell 2000	2,533.90	0.3%

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) flattened at $628.44.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) moved 0.44% to $478.54.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) eased 0.21% to $623.73.
• The iShares Russell 2000 ETF (NYSE:IWM) traded 0.3% higher to $252.28.
• The Industrials Select Sector SPDR Fund (NYSE:XLI) outperformed, up 0.8%; the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, down 0.3%.

Russell 1000's Top 5 Gainers On Wednesday

Stock Name	% Change
GE Vernova Inc.	+14.22%
Americold Realty Trust (NYSE:COLD)	+10.08%
Rocket Lab USA Inc. (NASDAQ:RKLB)	+7.21%
The Middleby Corporation (NASDAQ:MIDD)	+6.52%
Ally Financial Inc. (NYSE:ALLY)	+5.68%

Russell 1000's Top 5 Losers On Wednesday

Stock Name	% Change
Lyft Inc. (NASDAQ:LYFT)	-7.13%
Maplebear Inc. (NASDAQ:CART)	-6.43%
Uber Technologies Inc. (NYSE:UBER)	-5.44%
Duolingo Inc. (NASDAQ:DUOL)	-5.32%
GameStop Corp. (NYSE:GME)	-5.11%

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Image created using artificial intelligence via Midjourney.