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Happy Wednesday. This is TheStreet's Stock Market Today for Sept. 17, 2025. You can follow the latest updates on the market here, our daily live blog.

The Federal Reserve cut interest rates by a quarter point, bringing U.S. rates to a range between 4.00% and 4.25%.

The central bank also forecasts half a point of cuts in the two remaining FOMC meetings this year, while holding space for one cut next year.

However, not a lot else is changing: GDP has been upgraded for the year, unemployment is seen basically unchanged, and forecasts for CPI to stay steady and close to 3%.

Stocks and yields are not reacting dramatically after the report. We'll be back with an update shortly.

If you yearned for bonds at 4.25% to 4.50%, you might want to enjoy it while it lasts, i.e: the next hour.

At 2:00 p.m. ET, the Fed will release its interest rate decision from its two-day FOMC meeting. And soon after, we'll get a glimpse of the Fed's refreshed Dot Plot. We'll also hear from Fed leaders at the press conference, 30 after the hour.

Going into the final minutes before the print, let's take score: the Russell 2000 (+0.67%) and Dow (+0.44%) are up, while the S&P 500 (-0.16%) and Nasdaq Composite (-0.43%) are down. The 10Y (+1.9 basis points) is slightly higher at 4.045%. Spot Gold (-0.07%) is down to $3,686.11 per oz, per data from goldprice.org.

There's clearly some optimism, seeing the Russell 2000 today. Check out the heatmap before the big print:

On the other hand, the S&P 500 isn't looking so hot; looks like megacaps are the culprit:

Ticketing platform StubHub STUB is now trading, jumping 7% in its debut. The offering raised $800 million at an $8.6 billion valuation, one of the larger offerings of 2025 thus far.

Its offering comes at a time of challenges for the business, which is facing steeper competition from Ticketmaster, which has implemented a series of changes to discourse ticket reselling or fraud. Adding to the difficulties, regulators are increasingly sensitive to ticket resale.

Still, StubHub has been well-acquainted with difficulty. After being purchased by eBay in 2007, the company has been a 'hot potato', being later acquired back by its cofounder at Viagogo before embarking on its journey to Wall Street.

We'll have to see if the company can hold on to its day one gains in the future. Some recent IPOs have not fared well after their opening day pop, including Gemini GEMI and Klarna KLAR; both of which have declined from their first-day pops.

We're almost over the midday hump and nearly two hours away from the Fed's big rate cut decision.

Checking in on stocks (with a >$300 million+ market cap), there's been some movement in the stocks lining the top and bottom of the market ahead of this afternoon's big rodeo.

Here are the top 20 stocks in the market this afternoon:

And here are the bottom 20:

The U.S. markets are now open, but there's not a lot going on for the moment, at least unless you're the Dow.

This morning the Dow (+0.40%) is the only index taking charge this morning, making inroads in spite of some negative news out of China for chipmaker Nvidia  (NVDA)  (-1.2%), one of the index's 30 holdings.

Here's how things are shaping up in the index this morning:

Aside from the Dow's moves this morning, the S&P 500 (+0.06%), Russell 2000 (-0.09%), and Nasdaq (-0.16%) are little moved this A.M.

Looking at the broader market, a few stocks are making big moves out of the gate, including Roivant ROIV (+12%) and Grab Holdings GRAB (-5.4%), the market's top and worst performer for the moment, per Yahoo Finance. However, we're just getting started for the day, so take the starting gun with a grain of salt.

Here are the stocks in the green this A.M:

Here are the stocks heading lower:

Two big data points just dropped in Housing Starts and Building Permits, showing further deceleration in the housing market in August:

Building Permits were 1,312,000 (vs. 1.37 million expected) [-3.7% year-over-year]

Housing Starts were 1,307,000 (vs. 1.37 million expected) [-8.5% YoY]

Stocks are flat ahead of the highly-anticipated Federal Reserve interest rate announcement, which will be out at 2:30 p.m. ET. The S&P 500 (-0.07%), Nasdaq (-0.09%), Dow (+0.03%), and Russell 2000 (+0.08%) are all trading fairly flat ahead of the big decision, which will include some visibility into the central bank's perspective on the timing of future cuts.

There's a few data points due out today, such as Building Permits / Housing Starts, which will drop in short order. But most investors have already cleared their slate for the real event today this afternoon: the Fed's interest rate decision.

The market anticipates a 25 basis point (0.25%) cut, but a refreshed Dot Plot will show what can be expected from the central bank over the course of the next few meetings.

Here's everything on the slate for today:

Per Nasdaq, there are 27 earnings reports due out today. However, there's five of real consequence to most (market cap exceeding $1 billion. Among them are General Mills GIS, Bullish BLSH, and Manchester United MANU. Here are all five of those reports:

This story was originally reported by TheStreet on Sep 17, 2025, where it first appeared in the Stock Market News & Data section. Add TheStreet as a Preferred Source by clicking here.