US Stock Market today: The benchmark stock market indices in the US market rallied on Wednesday, 10 December 2025, after the Federal Reserve's FOMC decided to cut the benchmark interest rates of the US economy by 25 basis points for a third consecutive time.
MarketWatch data shows that the Dow Jones Industrial Average (Dow) jumped 1.31% to hit its intraday high level of 48,197.30 points during Wednesday's trading session, compared to 47,560.29 points at the previous US stock market close.
Dow Jones closed 1.05% or nearly 500 points higher at 48,057.75, after Wednesday's trading session.
The S&P 500 (SPX) also rallied 0.85% to hit its intraday high level of 6,900.67 points during Fed Chairman Jerome Powell's address, compared to 6,840.51 points at the previous stock market close.
The S&P 500 closed 0.67% higher at 6,886.68 points after Wednesday's US stock market session.
The tech-heavy Nasdaq Composite also surged 0.54% to hit the day's high at 23,704.08 points on Wednesday, compared to 23,576.49 points at the previous Wall Street close, according to MarketWatch data.
At the closing bell on Wednesday, the Nasdaq Composite closed 0.33% higher at 23,654.16 points, according to the market data.
US Fed December policy outcome
The US Federal Reserve's Federal Open Market Committee (FOMC) on Wednesday, 10 December 2025, decided to lower the interest rate to a range of 3.50%-3.75%, marking a 25-basis-point rate cut in the US economy.
The US Fed's decision comes amid elevated inflation levels in the economy, as the central bank still targets a 2% inflation level amid its goal to achieve maximum employment.
“In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-1/2 to 3‑3/4 per cent,” said the Federal Reserve in its official statement on Wednesday.
Fed Chairman Jerome Powell said that the central bank's decision to cut its benchmark interest rates is expected to stabilise the US labour market amid the rising unemployment numbers in the country.
However, the Fed Chairman also said that unemployment rates may hit 4.5% by the end of the year 2025 as the downside risk to employment appears to be rising in recent months.
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