At 3 AM, I believe everyone will be focused on the news of the Federal Reserve's interest rate cuts. However, the market has already firmly priced in a 25 basis point cut, so the market will likely follow the script for the rate cut. In fact, the risks during the meeting still revolve around the dot plot and the tone of Powell's speech.
If Powell mentions a slowdown in rate cuts for next year during his speech, the market will react with a certain decline, so we still need to see what old Powell has to say.