{"id":48197,"date":"2024-09-16T13:30:03","date_gmt":"2024-09-16T13:30:03","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/"},"modified":"2024-09-16T13:34:07","modified_gmt":"2024-09-16T13:34:07","slug":"market-update-monday-september-16-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/","title":{"rendered":"Stock Market Today: Indexes Rally Ahead of Fed Meeting"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/#Market_Overview_September_16_2024\" >Market Overview: September 16, 2024<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/#Major_Indexes_Performance\" >Major Indexes Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/#Upcoming_Market_Events\" >Upcoming Market Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/#Major_Stock_News\" >Major Stock News<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/#Economic_Indicators\" >Economic Indicators<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-monday-september-16-2024\/48197\/#Market_Outlook\" >Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Overview_September_16_2024\"><\/span>Market Overview: September 16, 2024<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market is poised for an exciting week as investors eagerly await the Federal Reserve&#8217;s highly anticipated policy meeting. As of Monday morning, September 16, 2024, futures paint a mixed picture. <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> futures are slightly down by 0.1%, while <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average futures show a modest gain of 0.2%. Nasdaq-100 futures, however, have dipped 0.5%, primarily due to a pullback in tech giant Apple (AAPL).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Performance\"><\/span>Major Indexes Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Last week proved to be exceptionally strong for Wall Street:<\/p>\n<p>&#8211; The Dow Jones Industrial Average surged 2.6%, marking its fourth weekly gain in five weeks.<br \/>\n&#8211; The S&amp;P 500 jumped 4%, recording its best week since November.<br \/>\n&#8211; The Nasdaq Composite soared nearly 6%, also posting its strongest weekly performance since November.<\/p>\n<p>As of the latest close, the S&amp;P 500 stands at 5,626.02, less than 1% away from its all-time high set in July. The Dow closed at 41,393.78, while the Nasdaq Composite finished at 17,683.98.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Federal Reserve&#8217;s meeting on September 17-18 is the focal point for investors this week. Market participants widely anticipate the first interest rate cut since March 2022, with expectations split between a 25 and 50 basis point reduction. The current overnight lending rate sits at 5.25% to 5.5%.<\/p>\n<p>This potential rate cut could significantly impact borrowing costs for companies, potentially boosting earnings growth and overall economic expansion. Historically, stocks have shown strong performance during cycles where initial rate cuts sustain economic growth.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Stock_News\"><\/span>Major Stock News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Apple (AAPL) shares have declined more than 2% in early trading. Analysts from Bank of America and JPMorgan have noted that shipping times might indicate lighter demand for iPhone 16 Pro models compared to the previous year.<\/p>\n<p>Tech and semiconductor stocks continue to attract investor interest:<\/p>\n<p>&#8211; Super Micro Computer (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SMCI\">SMCI<\/a>) and Arm Holdings (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ARM\">ARM<\/a>) saw gains of 3.4% and 5.9% respectively in recent trading.<br \/>\n&#8211; Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>) advanced 1.8%.<br \/>\n&#8211; Uber (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=UBER\">UBER<\/a>) jumped more than 6%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators\"><\/span>Economic Indicators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Recent economic data has shown signs of moderating inflation, supporting the case for a rate cut:<\/p>\n<p>&#8211; The Consumer Price Index (CPI) in August came in at 2.5% on an annualized basis, the lowest level since February 2021.<br \/>\n&#8211; Import prices fell 0.3% in August, marking the biggest decline of the year.<br \/>\n&#8211; Consumer confidence improved in September, with the University of Michigan&#8217;s Survey of Consumers rising to 69.0, up from 67.9 in August.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook\"><\/span>Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While optimism surrounds the potential rate cut, investors remain cautious. Quincy Krosby, chief global strategist for LPL Financial, notes that stocks typically face their roughest performance of the year during the second half of September.<\/p>\n<p>As the market approaches this crucial week, all eyes will be on the Federal Reserve&#8217;s decision and its potential impact on the broader economy and stock performance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: September 16, 2024 The U.S. stock market is poised for an exciting week as investors eagerly await the 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