Wall Street waffles around its records after the Fed cuts rates but won't guarantee more

NEW YORK (AP) — U.S. stocks bounced around their records on Wednesday after the Federal Reserve made moves to boost the job market but also warned that more help isn’t guaranteed.

The S&P 500 finished virtually flat and edged down by less than 0.1%. The Dow Jones Industrial Average dipped 73 points, or 0.2%, and the Nasdaq composite rose 0.5%. All three indexes were coming off an all-time high.

Stocks had been on track for modest gains in the afternoon after the Fed cut its main interest rate for the second time this year in hopes of helping the slowing job market. But the market snapped lower after Chair Jerome Powell later warned that it “is not a foregone conclusion” that the Fed will cut again in December at its next meeting, “far from it.”

“That needs to be taken off the board,” Po