A trader works on the floor at the New York Stock Exchange in New York City, U.S., Sept. 17, 2025.
Brendan McDermid | Reuters
Stock futures rose slightly on Wednesday as investors continued to digest the latest rate cut decision from the Federal Reserve.
S&P 500 futures traded up 0.2%, as did Nasdaq 100 futures. Additionally, futures tied to the Dow Jones Industrial Average climbed 50 points, or 0.1%.
In extended trading, shares of Cracker Barrel Old Country Store plummeted after its fourth-quarter earnings missed Wall Street’s expectations. The restaurant chain said that it’s focusing on enhancing the “guest experience” in the wake of its rebrand controversy.
The moves follow a volatile day of trading Wednesday after the Fed, as anticipated, slashed its benchmark rate by a quarter percentage point. The Dow Jones Industrial Average was the lone gainer, rising 260.42 points, or 0.57%, while the S&P 500 and the Nasdaq Composite fell 0.1% and 0.33%, respectively.
During a press conference following the decision, Fed Chair Jerome Powell put a damper on investor hopes that the central bank would be on a lengthy rate-cutting path this year, as he called the latest cut “risk management.” In fact, policymakers are predicting two more reductions this year, but just one in 2026, while traders had priced in two to three more cuts next year.
“The Fed’s 25 basis point cut is a clear signal: the softening labor market and stubborn inflation have pushed policymakers to act — but gradually. This isn’t a pivot, it’s a measured step,” Gina Bolvin, president at Bolvin Wealth Management Group, said in a statement.
“For investors, this means modest rate relief, not fireworks,” she added. “The Fed is walking a fine line, and upcoming inflation and jobs data will determine what comes next.”
Despite Wednesday’s losses, the S&P 500 and the Nasdaq are still headed for weekly gains, being up 0.2% and 0.5% in the period, respectively. That puts the broad market index on pace for its sixth positive week in seven and the tech-heavy Nasdaq on track for its third positive week in a row.
Meanwhile, Wednesday’s move higher for the 30-stock Dow puts its week-to-date advance at 0.4%, a move that would signify its second consecutive week of gains, if it holds.
Cracker Barrel shares drop after restaurant chain posts weaker-than-expected earnings, soft revenue guidance
Shares of Cracker Barrel Old Country Store slid more than 9% in extended trading Wednesday after the company’s fourth-quarter earnings missed analyst estimates.
The restaurant chain reported adjusted earnings of 74 cents per share, below the 80 cents per share that analysts surveyed by LSEG were expecting for the quarter. However, the company’s revenue of $868 million came in better than the consensus estimate of $855 million.
Cracker Barrel’s full-year guidance disappointed investors as well, as the company expects revenue for the period of between $3.35 billion and $3.45 billion. Analysts had anticipated $3.52 billion, per LSEG. On top of that, it sees same-store traffic declining between 4% and 7%.
CBRL, 1-day
The move lower in shares comes after they came under pressure last month following the Cracker Barrel’s rebranding announcement, which brings its one-month fall to more than 20%. While shares later saw a boost in the wake of the chain’s decision to scrap the new logo and go back to the original, they’re still in the red on the year, having fallen more than 6%.
— Sean Conlon
Stock futures open higher
U.S. stock futures opened in positive territory on Wednesday evening.
Shortly after 6 p.m. ET, futures tied to the Dow Jones Industrial Average advanced 34 points, or 0.1%. S&P 500 futures inched up 0.1%, while Nasdaq 100 futures gained 0.2%.
— Sean Conlon
