Key Takeaways

Major U.S. indexes were little changed at midday Wednesday, ahead of the Federal Reserve's decision on interest rates , with the central bank widely expected to deliver its first interest rate cut since 2020.

U.S. Steel ( X ) shares gained following reports Nippon Steel has been allowed by Biden administration officials to refile its plans to purchase U.S. Steel, pushing the review period for the $14.9 billion deal past the November elections.

Shares of Intuitive Machines ( LUNR ) skyrocketed after the space communications and navigation services provider received a contract worth up to $4.82 billion from the National Aeronautics and Space Administration (NASA) to assist in moon exploration.

VF Corporation ( VFC ) shares jumped as Barclays upgraded the stock, pointing to a turnaround in its Vans brand.

ResMed ( RMD ) shares tumbled zs Wolfe Research downgraded the stock amid concerns the sleep apnea device maker’s revenue could be hurt by competition from weight-loss medicines.

Shares of Cencora ( COR ) dropped on a report the drug distributor paid $75 million to hackers in what could reportedly be the biggest cyberattack ransom payoff ever.

Ebay ( EBAY ) shares declined when the online retailer’s CFO sold more than $1.9 million in the company’s stock.

Oil futures fell, and gold prices rose. The yield on the 10-year Treasury note advanced. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded lower.

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