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The Fed’s next policy decision is less than 30 minutes away. Here’s a look at where markets sit before Federal Reserve Chair Jerome Powell’s closely followed press conference at 2:30 p.m. ET.
The S&P 500 (^GSPC) was up 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) moved up than 1.2% as shares of chip heavyweight Nvidia (NVDA) and e-commerce giant Amazon (AMZN) rose to new highs.
Broadly, Big Tech led the market action, with all of the "Magnificent Seven" tech stocks up more than 1% on the day, led by more than 3% pop in Meta (META).
In bonds, a recent move higher in yields took a breather, with the 10-year Treasury yield (^TNX) falling about 7 basis points to 4.35%.
Below is a look at the sector action for the day where Information Technology (XLK) is leading the way.
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