Fed cut, Nvidia on the Dow, Airbnb and Paramount

The Federal Reserve cut interest rates by 25 basis points on Thursday, while Fed Chair Jerome Powell said another rate cut in December is a possibility in a press conference that followed the announcement. Powell went on to say that President-Elect Donald Trump is "not permitted under the law" to remove him from his position at the central bank.

Chip giant Nvidia (NVDA) replaces Intel (INTC) on the Dow Jones Industrial Average (^DJI), trading on the exchange beginning Friday.

Airbnb (ABNB) shares reversed course in extended hours and are now falling following the homestay booking platform's third quarter revenue beat. While reporting major improvements in its streaming businesses, Paramount Global (PARA, PARAA) missed on revenue in its latest quarter.