From Google: 2024-09-17 18:38:04

The S&P 500 ended the day nearly flat as early gains faded ahead of the Federal Reserve’s decision on interest rates. The index closed just 0.1% higher, while the Dow Jones Industrial Average rose 0.1% and the Nasdaq Composite fell 0.5%.

Investors are awaiting the Federal Reserve’s decision on interest rates, with expectations that the central bank will hike rates for the first time since 2018. The decision is seen as crucial for determining the future trajectory of inflation, economic growth, and market stability.

Market analysts noted that tech stocks were under pressure, with Apple Inc. down 1.3% and Microsoft Corp falling 0.7%. Financial shares rose, with JPMorgan Chase & Co up 0.6% and Goldman Sachs Group Inc gaining 0.7%.

The Federal Reserve is expected to raise interest rates by a quarter-point, with further hikes expected throughout the year. The decision comes amid concerns about rising inflation and supply chain disruptions, which have put pressure on businesses and consumers alike.



Read more at Google: S&P 500 ends little changed as early gains fade before Fed decision – Reuters.com