U.S. stocks rose after the Federal Reserve lowered its benchmark interest rates by 50 basis points to a range of 4.75% to 5%. That was the first rate cut in over four years that marked the beginning of a monetary-easing cycle in the world's largest economy.

Stock futures are pointing to a higher open for major U.S. indexes on Wednesday as market participants await the Federal Reserve's first interest rate cut in more than four years.

As the Fed gears up for a potential rate cut, US stocks hold steady. Learn how this key decision could influence the Dow Jones and Nasdaq indices today.

The Dow Jones gained over 200 points, the S&P 500 ended just above the flat line, while the Nasdaq fell 0.5% as shares of Apple and chipmakers were the biggest drags.

If NASDAQ manages to settle above the 19,600 level, it will head towards the next resistance level, which is located in the 20,000 – 20,100 range. Dow Jones tested new highs as traders reacted to Fed decision. However, Dow Jones has pulled back after the initial move.

The bond market has struggled following the rate cut, as the yield for the benchmark 10-year U.S. Treasury note have gained some 10 basis points from its 3.65% level just

The major market averages were muted on Wednesday, as investors await the Federal Reserve's decision on the monetary policy later in the day.  Early on and the S&P 500 (SP500) was near flat, the Nasdaq Composite (COMP.