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Stock market today: Dow, S&P poised to build on records as stocks rise ahead of Fed decision

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Fed Rate News

Nasdaq Composite

Investors are looking to retail sales data for clues to consumer health, the last piece of data that could factor into the Fed's rate decision.

Stocks rose during morning trading Tuesday, with techs leading the advance as investors assessed fresh retail sales data in the wait for a Federal Reserve meeting pivotal to an interest-rate cut. The Dow Jones Industrial Average moved up roughly 0.4%, coming off a record-high close for the blue-chip index. The S&P 500 added about 0.5%, nearing its own all-time high, while the tech-heavy Nasdaq Composite put on 0.8%. Stocks are setting up for gains as the odds of a 0.

Read more: Fed predictions for 2024: What experts say about the possibility of a rate cut Investors were weighing data that showed retail sales surpassed Wall Street's estimates in August, with the focus on signs of a slowdown in consumer spending. The reading is the last piece of data that could factor into the Fed's thinking on opting for a substantial rate cut rather than a quarter-point move.

 

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