US stocks closed higher on a recent trading day, with the S&P 500 up 0.60 percent, or 45.9 points, to 7,722.67. The Dow Jones Industrial Average gained 0.03 percent, or 16.82 points, to 52,378.4. Brent crude closed below $114 a barrel in volatile trade.
Tech shares lead the rally
Technology shares drove the gains ahead of this week’s earnings from Alphabet, Microsoft and Amazon. The semiconductor index rose 3.6 percent, and the Nasdaq 100 added 1.3 percent. Investors are waiting for the Federal Reserve’s rate decision on Wednesday.
The Fed is expected to hold rates for now, under chair Kevin Warsh. Markets, as described in the report, anticipate a rate hike in December. Bond prices were little changed, and the US dollar strengthened.
Boeing falls, UPS climbs
Boeing shares fell 11 percent after the company cut its aircraft delivery target. UPS rose after solid guidance.
Meta Platforms sold $25 billion of shares, drawing demand five times oversubscribed. Chris Brigati of SWBC said the period when a rising market can lift all stocks is starting to shift.
James McCann of Edward Jones said a rate hike at year-end looks likely, with one more in 2027, as the central bank seeks to control inflation.
