Highlights
Enthusiasm about Anthropic’s IPO filing helped AI and technology shares advance for a second day Tuesday as the Nasdaq outperformed. The Dow Jones industrial average was flat, the S&P rose 0.6 percent, and the Nasdaq gained 1.2 percent. Bond yields and the dollar edged up in response to better than expected US durable goods, new home sales, and consumer confidence reports while oil prices retreated.
Activity was somewhat constrained ahead of the Federal Reserve policy announcement and press conference due Wednesday afternoon. Investors expect the Fed to keep rates on hold and attention will focus on whether there are dissenters favoring a rate hike now, and what clues are given on the Fed’s next move.
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