FX.co ★ S&P 500, Nasdaq Retreat from Records

On Tuesday, there was a minor decline in US stocks as investors opted to secure profits in anticipation of the Federal Reserve's much-awaited policy meeting in September. The S&P 500 saw a marginal decrease of 0.1%, the Dow Jones dropped by 125 points, and the Nasdaq ended the day just below its starting point. Key technology companies such as Nvidia, Microsoft, Alphabet, and Palantir experienced declines, contributing to a market pullback alongside financial and utility sectors. Market analysts widely anticipate that the Federal Reserve will enact a 25-basis point interest rate cut on Wednesday—its first since December 2018—while closely monitoring Chair Powell’s remarks for potential insights into future policy directions. Concurrently, robust retail sales data for August highlighted strong consumer spending despite persistent inflation challenges and a weakening employment sector. Investors are also following developments between the US and China, with advancements on trade issues and a new framework for TikTok positively influencing market sentiment, thereby boosting Oracle's share price.