Wall St rises as AI momentum holds heading into key earnings, Fed decision
SPY•U.S. stocks advanced, with the S&P 500 up 0.68% and Nasdaq up 1.25%, as AI-related shares gained ahead of major earnings and the Federal Reserve’s policy decision. The Dow rose 0.12%.
1. Stocks advance
Wall Street’s main indexes rose Tuesday as optimism around AI stocks persisted ahead of corporate earnings and the Federal Reserve’s policy decision. At 11:52 a.m. ET, the Dow was up 0.12%, the S&P 500 0.68% and the Nasdaq Composite 1.25%.
2. AI shares lead gains
Chip stocks rose 3.2%, with Broadcom gaining almost 4%. Tesla climbed 3.8%, while Meta fell 0.8% after increasing its largest-ever equity fundraising to $97.5 billion to fund AI expansion. New orders for key U.S.-manufactured capital goods increased in September.
3. Other market factors
Boeing fell 9.5% after CEO Kelly Ortberg said the company would not reach its 737 production-rate target until early 2027. Brent crude slipped for a second session. The Federal Reserve was widely expected to hold rates steady on Wednesday.
