12.09.202517:07:47UTC+00US Stocks Set for Winning Week

In afternoon trading, both the S&P 500 and the Nasdaq 100 reached new heights, as gains in the technology sector countered overall market weakness ahead of the Federal Reserve's decision next week. The Nasdaq increased by 0.4%, buoyed by a 6% rise in Tesla and a 2.1% increase in Microsoft shares following the company's avoidance of a potential antitrust fine from the EU, which bolstered the tech sector. While the S&P 500 remained nearly flat, it still achieved a new record. In contrast, the Dow Jones Industrial Average fell by around 188 points, influenced by declines in Goldman Sachs and Sherwin-Williams stocks. Sectors such as technology and consumer discretionary led the advance, whereas materials and health sectors underperformed. Traders generally anticipate a 25-basis-point interest rate reduction at the Federal Reserve's meeting on September 17, although some see a slight chance of a more significant half-point cut, given the soft employment data and controlled inflation, which support the argument for monetary easing. For the week, the S&P 500 has increased by 1.6%, marking its best performance since early August; the Nasdaq has climbed 2%, and the Dow is set to mark its first weekly gain in three weeks.