Stock Market Today: S&P 500, Nasdaq clinch fresh records on Apple rally; Fed eyed

Investing.com -- The S&P 500 and Nasdaq climbed to a record close for the second-straight day Tuesday, underpinned by falling Treasury yields fell and a surge in Apple to all-time highs, though there was an element of caution ahead of Federal Reserve interest rate decision.) rose 7%, hitting a record high after its AI strategy, which was unveiled a day earlier at its annual developer conference was cheered by Wall Street.

As the AI functionality will only be backward compatible to iPhone 15 Pro…it"could lead to a much-needed iPhone upgrade cycle,” D.A. Davidson said in a note.fell 7.4 basis points to 4.397% after a $38 billion auction of 10-year notes were awarded at lower than expected yields, pointing to signs of stronger demand.

The monetary policy statement will also include the Fed's updated"dot plots," or the outlook on interest rates, inflation, and unemployment. Remarks from Fed ChairFurther signs of inflation easing could cement expectations for rate cuts, especially given signs of economic weakness, but a bad inflation miss could spook investors and bring back recession fears that have laid dormant for months.

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