WALL STREET ENDS HIGHER – Investors juggle Fed nerves with AI enthusiasm

Wall Street’s main indexes advanced with megacap growth stocks such as Alphabet and Tesla supporting a rebound in technology-heavy Nasdaq while investors also waited for the U.S. Federal Reserve’s meeting this week.

Investors were torn between enthusiasm about the prospects for AI in the technology sector and worries ahead to the Federal Reserve’s statement and commentary on Wednesday according to Lindsey Bell, chief strategist at 248 Ventures in Charlotte, North Carolina.

According to preliminary data, the S&P 500 gained 32.48 points, or 0.63%, to end at 5,149.57 points, while the Nasdaq Composite gained 130.28 points, or 0.82%, to 16,103.46. 

The Dow Jones Industrial Average rose 73.44 points, or 0.19%, to 38,788.21.