S&P 500 After Two Losing Weeks: The Fed Meeting Opens…
By Tobi Opeyemi Amure
AI summary of the source article
The S&P 500 rose 0.70% to 7,676.77 ahead of the Federal Reserve's rate decision and upcoming megacap tech earnings. The advance was driven by Anthropic’s IPO prospectus, which revealed roughly $518 billion in planned cloud and compute obligations.
Why it matters
Strategist Alexandra Semenova stated that "the AI trade is entering a more demanding phase," with investors focused on whether returns justify the spending.
Key facts
- The S&P 500 rose 0.70% to 7,676.77, remaining below its 50-day moving average of approximately 7,699.
- Anthropic's IPO prospectus disclosed $16.3 billion in revenue for the six months to June and roughly $518 billion in planned compute and infrastructure commitments.
- CME FedWatch priced the probability of no interest rate change at the Federal Reserve meeting at 90.6%.
Source excerpt · FinanceFeeds
The S&P 500 enters the Federal Reserve’s two-day meeting after two consecutive weekly declines, and Monday’s 0.70% gain still left the index at 7,676.77 , under the 50-day moving average that Charles Schwab put at about 7,699. Monday’s bid came from Anthropic’s public IPO filing rather than from anything the market itself produced. Three days now carry a rate decision on Wednesday, results from Mi…