MARKET WRAP

Stocks closed little changed today after the S&P 500 touched an all-time high for the first time since July.

The S&P was up 0.03%, the Nasdaq Composite up 0.2%, and the Russell 2000 up 0.64%.

This comes ahead of the Fed’s interest rate decision tomorrow, where the central bank is expected to cut rates for the first time since the pandemic.

More than 40 S&P 500 stocks touched 52-week or all-time highs today, including Visa, MasterCard, American Express, ServiceNow, Pultegroup and Lennar.

Energy was the top sector, up more than 1% while Health Care was the worst, down more than 1%.

MRKT MATRIX: September 17, 2024

Today’s Top Stories:

• S&P 500 is little changed after touching record before key Fed decision (CNBC)

• Bets on wild stock-market swings boom as traders face most uncertain Fed rate decision in recent memory (MarketWatch)

• More stocks are participating to the upside, signaling a healthier market (CNBC)

• Value-Stock ETFs Pull In Billions in Pre-Fed-Cut Rotation Bet (Bloomberg)

• Microsoft Boosts Dividend, Authorizes Buyback of Up to $60 Billion (WSJ)

• Intel CEO Moves to Further Cut Costs and Separate Chip Making and Design (WSJ)

• Novo Says Ozempic ‘Very Likely’ Target for Next US Price Cut (Bloomberg)

• JPMorgan in Talks With Apple to Take Over Credit Card From Goldman (WSJ)

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