Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (-0.5%), and DJIA (+0.2%) sit mixed just before midday in another relatively muted session as investors await the results of this afternoon's FOMC meeting. 

The major averages all hold losses of roughly 0.3% for the week, reflecting some caution ahead of the last FOMC decision of the year. 

Meanwhile, the Russell 2000 (+0.1%) holds a 0.3% gain for the week, highlighting the prevailing view that the Fed will deliver a rate cut at today's meeting, though commentary may be hawkish towards additional easing in the near term. 

Currently eight S&P 500 sectors hold gains, though growth at the index level is limited by a 0.7% slide in the information technology sector. Microsoft (MSFT 479.72, -12.30, -2.50%) and NVIDIA (NVDA 182.60, -2.36, -1.28%) provide weak leadership, contributing to weakness in the Vanguard Mega Cap Growth ETF (-0.5%). 

Elsewhere, there is a handful of notable stock-specific moves, though like previous sessions this week, they have done little to influence the major averages. GE Vernova (GEV 704.30, +79.00, +12.63%) captured a new all-time high issuing upbeat guidance, while Warner Bros. Discovery (WBD 29.38, +1.12, +3.95%) pads its gains for the week amid an intensifying takeover battle.