S&P 500 gains ahead of Fed's interest rate decision
Wall Street closed higher on Tuesday, with the S&P 500 up 0.43%, as investors waited for the Federal Reserve's policy update.
Gains were fueled by strong performances in travel and energy stocks, even as oil prices hovered near $100 a barrel due to Middle East tensions.
Energy and travel stocks lead the way
Energy led the way: Occidental Petroleum and ConocoPhillips both rose over 1%.
Travel stocks also took off: Delta jumped 6.9%, American Airlines climbed 3.4%, and Expedia gained 5%.
Financial firms like Blackstone and Apollo saw solid growth too.
Airlines rebound as Fed prepares for interest rate decision
After recent losses linked to rising oil prices and Middle East conflict, airlines are rebounding.
The Fed is now considering how these oil shocks might impact the economy, but analysts like Baird's Ross Mayfield urge caution against any drastic moves.
On Tuesday, nearly three times as many S&P 500 stocks rose as fell—a sign of market optimism despite global uncertainty.