Stock market today: S&P nears all-time high stocks rise ahead of Fed decision

Published On Sep 17, 2024, 11:10 AM

The stock market saw gains today, with the S&P 500 nearing its all-time high as investors await a key decision from the Federal Reserve on interest rates. The Dow Jones Industrial Average increased about 0.4%, and the Nasdaq Composite rose 0.8%. The market is reacting positively to recent retail sales data showing consumers are still spending, suggesting the economy remains robust despite some signs of a slowdown. Investors are particularly focused on the Fed's upcoming policy meeting, with predictions of a possible rate cut, potentially the first since early 2020. Notably, tech stocks are leading the rise, reflecting positive sentiment after news of major corporate developments, such as Intel securing Amazon as a large customer for AI chips and Microsoft announcing a significant share buyback and dividend increase.