Stock market today: S&P 500 snaps 3-week win streak ahead of Fed meeting next week

Investing.com -- The S&P 500 snapped a three-week win streak Friday as traders opted for caution ahead of the Federal Reserve meeting next week.) stock soared 24% after the chipmaker forecast higher-than-expected revenue for the current quarter, citing increased chip demand from growing interest in artificial intelligence.

The upbeat forecast and optimistic comments from executives during the earnings call saw investors largely look past softer-than-expected quarterly revenue, rekindling the enthusiasm surrounding AI.), meanwhile, climbed more than 4% after Reuters reported that President-elect Donald Trump is considering scrapping a program that requires company's to report automated vehicle crash data, Reuters reported.

Trader bets on the cut at the central bank's Dec. 17-18 meeting stand at over 96%, according to CME's FedWatch Tool. However, they indicate chances of a pause in January.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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