Stock market news today: Stocks rally before Fed as Nvidia surges 7%

US stocks rallied on Wednesday amid a tech revival that sent the Nasdaq surging, as investors prepared for the Federal Reserve's decision on whether to cut interest rates. The S&P 500 rose by 1.5% while the tech-heavy Nasdaq Composite soared more than 1.8%. The Dow Jones Industrial Average rose about 0.1%. Tech stocks are in the ascent again after taking a battering in recent days.

Elsewhere, Dutch chip gear giant ASML's stock surged after Reuters reported the US will exempt some foreign allies from new China curbs. As that pressure eases, the spotlight is turning to the Fed, which is expected to hold interest rates steady but signal a cut is in the pipeline when it ends its July policy meeting later Wednesday.

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Stock market today: Stocks fall from records as Tesla, Nvidia lead tech sell-offJerome Powell steps up for part two of his policy update to Congress, with investors on the alert for more clues to rate-cut prospects.
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Stock market news today: Stocks waver in wait for key earnings, Fed meeting kickoffA packed day of earnings and the start of the Fed's July meeting continue a potentially pivotal week for stocks.
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Stock market news today: US stocks set for rebound after key Fed-watched inflation dataInvestors are looking to the Fed-favored inflation data to calibrate the timing and depth of rate cuts.
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Stock market news today: Nasdaq sinks, Nvidia drops 7% ahead of Big Tech earningsA packed day of earnings and the start of the Fed's July meeting continue a potentially pivotal week for stocks.
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Stock market news today: Nasdaq dives as tech sell-off continues, Nvidia down 4%Earnings misses have put the spotlight on the health of the economy after a Big Tech-led sell-off.
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