Happy Thursday! Markets shrugged off a surprisingly divided Fed decision, with indexes hitting new highs despite cautious signals on future rate cuts. Curious why Wall Street didn’t flinch and what could come next? Dive into today’s full recap to find out.

Also, these heavily shorted stocks are making headlines on Wall Street with some seeing danger, while others see a potential goldmine. Read on to uncover the top 10 stocks attracting the boldest bets right now and which ones could deliver the next big surprise.

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• MARKET HISTORY

This Hasn’t Happened Since 2019 — And Wall Street Rallies To Shrug Off Jerome Powell's Wait-And-See Stance

The Federal Reserve is the most divided since 2019 as three members dissented from the 25 basis point cut which lowered the range to 3.5%-3.75%.

Yet Wall Street didn’t flinch, and even shrugged off Jerome Powell’s cautious wait-and-see approach when it comes to future rate cuts as indexes such as the Russell 2000 set record highs.

So what’s behind the big rally when some on Wall Street expected it to be a “sell the news” reaction after the run-up to the Wednesday’s decision? Click here for all the details.

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Yesterday: U.S. indexes closed higher Wednesday after the Federal Reserve delivered its third consecutive rate cut, lowering the federal funds target range to 3.5%–3.75% and signaling a shift to a more growth-supportive stance. The decision wasn’t unanimous, revealing notable division with three dissents this time — the most since 2019 — as some members argued against cutting rates. Despite the Fed projecting only one additional cut next year, Wall Street is overly bullish and is currently pricing in two rate cuts next year. Among the indexes, small caps led the way again, with the Russell 2000 soaring to another intraday record as investors continue to pile in, given that smaller companies tend to benefit the most from lower borrowing costs.

On Our Radar: Analysts will be watching initial jobless claims and the U.S. trade deficit this morning. On the earnings front, all eyes will be on Broadcom (AVGO), Costco (COST) and Lululemon (LULU) which all report after the market close.

Shares of GE Vernova (GEV) soared on investor day, while Uber (UBER) sank due to regulatory pressure in Europe and a price target cut from analysts. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Wednesday.

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

AI Tumble: With soaring AI demand and an 817% increase in multicloud database growth, why did Oracle’s Q2 revenue still fall short of expectations? Click to uncover what’s behind the surprising 10% stock drop and what it means going forward.

Lift Off: Planet Labs is soaring after beating Q3 revenue estimates by a wide margin and boosting its full-year outlook. Read on for all the details. 

Missed The Memo: Despite Cathie Wood trimming and Michael Burry shorting, Palantir keeps climbing with a surge of new AI contracts. Will the momentum last? Click to find out.

25-Year Rebound: After 25 years, Cisco has finally reclaimed its dot-com glory, riding a wave of AI demand and record-breaking orders. Click to see why Wall Street thinks the comeback is just getting started.

Stock Of The Day: AppLovin is testing a key price level that investors are watching closely. Discover the signals that could make or break this breakout.

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On This Day In 1957…

Capital Cities Broadcasting went public at $5.75 per share, valuing the company around $300,000. Under the leadership of CEO Tom Murphy — later hailed by Warren Buffett as “the best business manager” he’d ever met — Capital Cities became one of the greatest compounding stories in American business, delivering more than 32% annualized returns over four decades. The company would go on to acquire ABC in 1985, before eventually selling to Disney for $19 billion in 1995, marking one of the most remarkable corporate growth stories in U.S. history.

QUOTE OF THE DAY

“Value investing is simple to understand but hard to implement“

— Seth Klarman

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