US markets today: Wall Street holds near records ahead of Fed meeting; retail data and corporate results influence trading – The Times of India

US stocks stayed close to record highs on Tuesday as investors awaited the Federal Reserve’s first interest rate cut of the year, expected on Wednesday. The S&P 500 rose 0.1% from its recent peak, the Dow Jones Industrial Average gained 52 points, or 0.1%, and the Nasdaq composite was 0.1% higher as of 9:35 a.m. Eastern time.The rally reflects expectations that the Fed will begin a series of rate reductions to support economic growth, with a slowing job market prompting officials to prioritise employment over inflation. Analysts expect additional cuts through the remainder of 2025 and into 2026.Consumer spending exceeds expectationsRetail sales data for August showed higher-than-expected consumer spending, with overall sales rising 0.6% month-on-month and 5% year-on-year. Spending gains were seen at motor vehicle dealers, restaurants, bars, and grocery stores, while furniture and general merchandise stores reported declines. The figures suggest households continue to spend despite tariff-driven price pressures, limiting near-term recession risks.Corporate results and geopolitical factors influence tradingCorporate earnings added mixed signals. Oracle shares gained 3.5% on speculation it may help keep TikTok operating in the US, while Dave & Buster’s dropped 15.4% following weaker quarterly profits. New York Times Co. fell 1.6% after former President Donald Trump filed a $15 billion defamation lawsuit against the company and four journalists, citing coverage related to the 2024 election.Global markets showed modest movements, with Japan’s Nikkei 225 rising 0.3% to a record high despite political uncertainty following Prime Minister Shigeru Ishiba’s resignation. European indexes dipped slightly. Meanwhile, the yield on the US 10-year Treasury eased to 4.03% from 4.05%, reflecting anticipation of lower interest rates.Bank of America’s latest survey showed global fund managers heavily weighted toward US equities at the highest level in seven months, although 58% also said stocks look overvalued. Analysts noted that attention will focus on Fed Chair Jerome Powell’s press conference and projections, which could guide market direction in the months ahead.