Investors Await Fed’s Decision Amid Market Volatility

The S&P 500 and Nasdaq showed little movement in tumultuous trading as investors awaited the Federal Reserve's anticipated interest rate cut decision. The rate cut aims to address economic concerns, particularly in the U.S. labor market. The central bank is expected to announce a 25 basis point reduction.

Retail sales figures for August surpassed predictions, according to the Commerce Department. However, this did not significantly alter investor expectations for a rate cut. The financial sector struggled, with stocks dropping nearly 0.7%, contributing to declines in major market indexes.

Despite these challenges, energy stocks saw a 0.9% increase due to climbing oil prices. Additionally, tech giants like Tesla and Amazon bolstered the consumer discretionary sector, driving gains. Wall Street witnessed a mixed performance with some stocks hitting record highs and others experiencing significant losses.

(With inputs from agencies.)