S&P 500 Tops 6,900 Ahead Fed Rate Move, Gold Reclaims $4,000: What’s Moving Markets Wednesday?
A powerful surge in AI-related stocks — led by a 9% advance in NVIDIA Corp. (NASDAQ:NVDA) over the past two sessions — propelled the S&P 500 above the 6,900 mark and lifted the Nasdaq 100 to 26,100 points, both breaking new records, as investors brace for the Federal Reserve’s highly anticipated rate decision on Wednesday.
• SOXX is poised for a potential breakout. Review the technical setup here.
Nvidia made history on Wednesday by becoming the first company ever to surpass a $5 trillion market valuation, pushing the combined worth of the Magnificent Seven to $22.2 trillion.
During the GTC event in Washington, D.C on Tuesday., CEO Jensen Huang unveiled visibility for more than $500 billion in data center orders for calendar years 2025 and 2026, along with plans to construct seven supercomputers for the U.S. Department of Energy aimed at advancing nuclear research and alternative energy development.
The iShares Semiconductor ETF (NYSE:SOXX) rallied for the fifth straight session, outperforming all other industries.
The Federal Reserve is widely expected to trim interest rates by 25 basis points at 2 p.m. ET, bringing the federal funds rate down to the 3.75%–4% range after cooler-than-expected inflation readings last week. Market participants will be closely watching Fed Chair Jerome Powell’s comments for any signal that policymakers could deliver another cut in December — an outcome traders currently view as another done deal.
On the earnings front, Caterpillar Inc. (NYSE:CAT) surged 13%, marking its strongest single-day gain since March 2009, after reporting results and guidance that topped …
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