US stocks finished mixed Wednesday while the dollar moved higher as markets digested the Federal Reserve cutting interest rates for the first time in 2025 and signaling it could enact two more cuts this year.

The moves largely corresponded to market expectations and follow recent economic reports showing weaker job growth that Fed Chair Jerome Powell said justified a greater focus on the central bank's labor market mandate compared with inflation.

Equities initially strengthened on the decision, but trading was choppy thereafter as markets digested Powell's press conference while trying to parse whether his message was more dovish or hawkish than expected.

The dollar initially retreated but later strengthened, with gains against the euro and other currencies compared with Tuesday.

The

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