S&P 500 and Nasdaq advance as oil eases ahead of Fed decision
SPY•The S&P 500 rose 0.16% and the Nasdaq gained 0.38% as oil prices eased ahead of the Federal Reserve’s decision, while the Dow fell 0.14%. Investors also assessed corporate earnings and awaited results from major technology companies later in the week.
1. Indexes move higher
The S&P 500 and Nasdaq advanced on Tuesday as easing oil prices supported risk appetite ahead of the Federal Reserve’s policy decision this week. At 9:57 a.m. ET, the S&P 500 was up 0.16% at 7,689.22, the Nasdaq Composite had gained 0.38% to 26,267.46, and the Dow was down 0.14% at 52,287.66.
2. Fed and oil outlook
The Fed was widely expected to hold rates steady on Wednesday. Markets were pricing in at least two more rate hikes by mid-2027, while Brent crude slipped for a second session but remained near its highest level since late April.
3. Earnings and AI stocks
Investors assessed company results and awaited earnings from Alphabet, Microsoft and Amazon.com later in the week. Boeing fell 1.8% after reporting a bigger-than-expected third-quarter loss, while Royal Caribbean rose 6.5% after lifting its full-year profit forecast. General Motors gained 5% after announcing plans to switch its listing to Nasdaq.
