Good evening, you're tuned to Markets Desk.
The Federal Reserve delivered its first interest rate hike in three years Wednesday, lifting the benchmark rate by a quarter point to a range of three point seven five to four percent. Fed Chair Kevin Warsh was clear that the move won't immediately bring down prices for consumers, and markets are now pricing in the likelihood of further hikes ahead.
Equities didn't take the news quietly. The S&P five hundred shed nearly half a percent on the session, the Dow dropped over one percent, and only the Nasdaq managed to hold flat, finishing essentially unchanged. Futures slipped further after the close, suggesting traders remain uneasy about the pace of tightening still to come.
Away from the Fed, Generac is the standout mover of the session, with shares surging more than thirty percent after the company announced a two point four billion dollar deal with Amazon. The agreement cements Generac's position as a serious player in the AI power infrastructure buildout, where demand for reliable backup generation is accelerating fast.
That's the tape. Markets Desk, signing off the floor.
