Stock Market Winners & Losers: Stocks Are Little Changed Awaiting Rate Cuts | Intuitive Machines Stock Soars on New NASA Contract
Stocks remained relatively flat as Wall Street awaited the Federal Reserve’s first interest rate cut in four years, expected to be announced at 11 a.m. PT. The central bank is predicted to lower rates by either 0.25% or 0.5%, making borrowing cheaper for consumers and businesses. This could lead to lower mortgage rates, cheaper car loans, and reduced credit card APRs, but it may also mark the end of high-yield savings accounts. Additionally, space technology company Intuitive Machines saw its stock surge 50% today after a 111% rise this year. The company recently secured a $4.8 billion contract from NASA and made the first soft landing on the Moon for a U.S. entity in 50 years.
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