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S&P 500, DOW MUTED AS RATE-CUT RALLY SPUTTERS




The benchmark S&P 500 and the blue-chip Dow were nearly flat on Wednesday as investors took a breather from a rally that was sparked by the Federal Reserve's likely pivot to a dovish policy, while FedEx tumbled after issuing a grim outlook.

Propping up the tech-heavy Nasdaq (.IXIC), Alphabet(GOOGL.O) climbed 3.1% to an over one-and-a-half year high after a report said Google is planning to reorganize a big part of its 30,000-person ad sales unit, citing a person with knowledge of the situation.

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