NYSE Pre-Market Update: S&P Logs Best Week Since August, Fed Decision Looms

The New York Stock Exchange (NYSE) provides a pre-market update with market insights before trading begins. Equities are higher Monday morning after a winning week on Wall Street, with the S&P 500 recording its best week since early August and the Dow snapping a losing streak. Investors will monitor Nvidia's activity after China says the firm violated an anti-monopoly law and keep an eye on the Federal Reserve's policy decision, including interest rates and the Empire State Manufacturing Index.

Equities are higher Monday morning following a winning week on Wall Street. The S&P 500 recorded its best week since early August, gaining 1.6%, while the Dow snapped a losing streak. Investors will closely monitor Nvidia after China accused the firm of violating an anti-monopoly law. The Federal Reserve's policy decision, including interest rates and the Empire State Manufacturing Index, will also draw headlines.

The New York Stock Exchange (NYSE) provided a pre-market update, highlighting the mixed performance of stocks. The S&P 500 and the Dow closed with solid weekly gains, with the Dow Jones Industrial Average (^DJI) rising nearly 1% for its first winning week in three weeks, while the S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) turned in their best weekly performances since early August Fed's rate decision looms as markets hover near records^[3].

The Federal Reserve is expected to deliver its next policy decision, with investors overwhelmingly betting on a quarter-point cut in interest rates. The Fed's call could determine whether the rally has more room to run. The central bank is widely expected to prioritize a cooling labor market even as sticky inflation complicates the picture Fed's rate decision looms as markets hover near records^[3].

Investors will also keep an eye on the Empire State Manufacturing Index, released ahead of today's open. The index is expected to show a reading of 11.9, up from 4.9 previously NYSE Content Advisory: Pre-Market Update + S&P comes off best week since August^[2].

The market's focus on the Fed's decision comes as economic data and earnings reports are in focus. Tuesday brings the August retail sales report, a key gauge of household demand. The average 30-year fixed mortgage rate slipped to 6.35% from 6.5% the prior week, according to Freddie Mac Fed's rate decision looms as markets hover near records^[3].

Earnings season is winding down, but a handful of bellwethers remain. FedEx (FDX) is the main event, as results from the delivery giant are often viewed as a proxy for the health of global trade and the broader US economy. Investors will also get updates from homebuilder Lennar (LEN), food giant General Mills (GIS), and restaurant operator Darden (DRI) Fed's rate decision looms as markets hover near records^[3].

The Fed's interest rate decision, along with Chair Jerome Powell's subsequent press conference, will be the key economic event of the week. Alongside its policy decision, the Fed will release its quarterly "dot plot" — a snapshot of policymakers' projections for the path of interest rates Fed's rate decision looms as markets hover near records^[3].