The Dow Jones Industrials retreated 4.97 points to 43,724.96.
The S&P 500 index hiked 38.91 points to 5,967.95.
The NASDAQ jumped 254.71 points, or 1.3%, to 19,238.17.
Financial stocks, which surged on Wednesday, cooled a bit on Thursday. Shares of JPMorgan Chase fell 2% and American Express dipped 1.7%, weighing on the Dow.
Big Tech stocks moved higher, with Apple and Nvidia each gaining more than 1%.
A rate reduction Thursday would mark a second straight cut after the Fed’s decrease in September, which was its first since 2020.
Prices for the 10-year Treasury barreled ahead, lowering yields to 4.36% from Wednesday’s 4.44%. Treasury prices and yields move in opposite directions.
Oil prices regained 21 cents to $71.90 U.S. a barrel.
Prices for gold regained $25.50 an ounce to $2,701.80 U.S.