Nasdaq, S&P 500 climb ahead of keenly awaited Fed decision

According to Business Recorder, the Nasdaq Composite and S&P 500 edged higher after a two-day slide, helped by lower oil prices. Investors awaited the Federal Reserve's rate decision due on Wednesday. Energy shares fell, while technology stocks were mixed, with Nvidia and Apple slightly higher.

The rate announcement, due at 2 p.m. ET, is seen as pivotal for sentiment, given high bond yields, inflation and escalating Middle East tensions. Traders price in nearly a 93% chance of a hike, based on CME FedWatch data, though uncertainty remains. Analysts warn that a decision to hold rates could damage the central bank's credibility, since Chair Kevin Warsh was chosen by President Donald Trump with expectations of rate cuts.

Crude eased once reports emerged that Saudi Arabia would ship extra cargoes through Oman, calming fears over the scale of Middle East supply losses. Energy stocks were the weakest group, with their index sliding 2.1%, while Intel climbed 5.6% after a report on possible memory chip work with SK Hynix. At 9:38 a.m. ET, the Dow slipped 0.19%, while the S&P 500 and Nasdaq Composite rose 0.19% and 0.43%.