This Week on Wall Street

Wall Street extended Monday's rally into Tuesday, with chip and AI-linked names driving gains ahead of Wednesday's Fed decision: the S&P 500 rose 0.60% to 7,722.60, the Nasdaq Composite jumped 1.18% to 26,477.81, and the Dow Jones added a modest 0.03% to 52,377.57 as Boeing's post-earnings weakness offset broader strength. Week-to-date, Technology is up 3.55% and Consumer Discretionary has gained 1.66%, while Energy has tumbled 3.40% and Consumer Staples is down 1.87% as oil eased on reports of progress in Middle East ceasefire talks. The VIX slid to 17.52, its lowest close in weeks, while the 10-Year Treasury yield held near 4.99%; WTI crude eased to roughly $100.30 and gold climbed to about $4,060 as the Fed's two-day policy meeting got underway. Sentiment ticked higher but stayed guarded — the Fear & Greed Index rose to 31, still in the Fear zone — with markets widely expecting the Fed to hold rates at 3.75%-4.00% on Wednesday. All eyes now turn to today's 2:00 p.m. ET rate decision, followed by after-the-bell earnings from Microsoft and Alphabet, with Amazon, Q3 GDP, and the Fed's preferred PCE inflation gauge due Thursday.