Overview

• U.S. stock benchmarks traded mixed on Wednesday as markets awaited the Fed’s policy announcement
• Preliminary second-quarter GDP grew 3%, exceeding forecasts and reinforcing expectations of a rate hold with potential future cuts
• President Trump imposed a 25% tariff plus an extra penalty on India after U.S.–China talks ended without extending the August 12 tariff truce
• Microsoft and Meta are due to release quarterly results after today’s close, with Amazon and Apple set to report on Thursday and shape near-term market direction
• Despite record highs for the S&P 500 and Nasdaq Composite, the VIX remains below its long-term average, stoking warnings of a potential market correction