Economy & Finance

S&P 500 and Nasdaq rise on AI momentum ahead of Fed decision and earnings

The S&P 500 gained 0.60% to close at 7722.60 while the Nasdaq Composite gained 1.18% to 26477.81 led by technology and AI-related stocks. 83% of S&P 500 companies reporting Q3 results beat expectations. Boeing posted a bigger-than-expected third-quarter loss sending shares down nearly 10%. Royal Caribbean gained after raising its full-year profit forecast on strong Q3 results. The Federal Reserve opened its two-day meeting on Tuesday with a decision due Wednesday and markets pricing in at least two more hikes by mid-2027.