Key facts
- US stocks advanced Tuesday, led by AI optimism and tech sector gains.
- Investors await the Federal Reserve's interest rate decision on Wednesday.
- Microsoft and Alphabet report earnings Wednesday, Amazon on Thursday.
- Bitcoin traded above $80,000.
- WTI crude oil fell to below $100 a barrel.
US stocks advanced on Tuesday, continuing a rally fueled by optimism surrounding artificial intelligence and a stable bond market. Investors are now focused on the Federal Reserve's upcoming policy decision on Wednesday, with a high probability of interest rates remaining unchanged. Major tech companies, including Microsoft, Alphabet, and Amazon, are set to release their third-quarter earnings this week, with particular attention on their cloud growth outlook and capital expenditure plans. The market has shown a generally bullish sentiment in recent trading sessions, despite concerns about increased spending potentially impacting free cash flow, as seen in Meta's recent share price reaction to its earnings report. Oil prices declined, and Bitcoin saw a recovery above $80,000. The US dollar continued its upward trend for a third day.