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Stock market news today: Dow notches its 12th straight win

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Dow notches 12th straight win as US stocks rally ahead of Fed policy decision

US stocks climbed on Tuesday amid investors' anticipation for upcoming earnings reports from Alphabet and Microsoft and ahead of a key decision on interest rates from the Federal Reserve on Wednesday.

Tuesday marked the start of the Fed's two-day meeting, which will determine the direction of future monetary policy. Though majority ofexpect another interest rate hike for July, some view this as a potential conclusion to the bank's tightening cycle. If it raises rates tomorrow, it will market the 11th hike since March 2022, and would bring the federal funds rate to a range of 5.25%-.5.50%, with the Conference Board's consumer confidence index hitting its highest since July 2021.

 

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