Tech Stocks Hold Steady Ahead of Pivotal Fed Meeting

The Nasdaq 100 index marked time as the new trading week began, with investors adopting a cautious stance in anticipation of the Federal Reserve’s imminent policy decision. Beneath the surface calm, a significant sector rotation provided notable movement. Semiconductor stocks found support from renewed enthusiasm for artificial intelligence, but the index was held back from reaching new highs by pressure on major components like Tesla.

A divergent picture emerged among the index’s constituents. Broadcom shares advanced 2.3% following reports of advanced talks with Microsoft to develop custom AI chips. This positive sentiment lifted peers such as Micron and Lam Research.

In stark contrast, Read more...