Nasdaq Futures concluded the trading day on Tuesday with a decline, reflecting a volatile session as investors exhibited caution in anticipation of the Federal Reserve’s forthcoming decision regarding interest rates at the conclusion of its two-day policy meeting on Wednesday. The tech-heavy Nasdaq experienced a decline of 0.1%, or 14.79 points, concluding at 22,333.96, retreating from the all-time high reached in the prior session. All three major indexes concluded the trading session in negative territory.

The Dow Jones Industrial Average declined by 0.3%, equivalent to 125.55 points, closing at 45,757.90 points. The S&P 500 experienced a slight decline of 0.1%, translating to a decrease of 8.52 points, concluding the session at 6,606.76 points, following an all-time closing high achieved in the prior session. Utilities and real estate stocks exhibited the weakest performance. The Utilities Select Sector SPDR experienced a decline of 1.8%. The Technology Select Sector SPDR and the Real Estate Select Sector SPDR experienced declines of 0.4% and 0.6%, respectively. Eight of the eleven sectors of the benchmark index concluded in negative territory. The CBOE Volatility Index, experienced an increase of 4.27%, reaching a level of 16.36. On the NYSE, advancers surpassed decliners with a ratio of 1.07 to 1. On the Nasdaq, advancing issues were favored by a ratio of 1.01-to-1. On Tuesday, trading volume reached 17.11 billion shares, surpassing the 20-session average of 16.31 billion shares. On the Nasdaq, there were 89 new highs and 58 new lows recorded. In the S&P 500, 15 new 52-week highs were recorded alongside 13 new lows.

Tuesday experienced a volatile trading session, with investors exercising caution and realizing some profits in anticipation of the Federal Reserve’s forthcoming decision regarding rate cuts. Market participants are assigning a 100% probability to a quarter percentage point reduction in rates at the conclusion of the Federal Open Market Committee’s two-day meeting on Wednesday. Investors are increasingly keen to listen to Federal Reserve Chairman Jerome Powell during the post-meeting press conference, which is anticipated to provide a more definitive perspective on the central bank’s monetary policy trajectory in the upcoming months. Investors are currently focused on determining whether the central bank will implement two additional rate cuts this year or opt for a single reduction. The ambiguity surrounding prospective rate reductions exerted pressure on major indexes, leading to a decline in share prices from their previous peaks. Shares of UnitedHealth Group Incorporated declined 2.3%. Shares of NVIDIA Corporation ended the day 1.6% lower. NVIDIA holds a Zacks Rank of #3, indicating a Hold position. The comprehensive list of today’s Zacks #1 Rank (Strong Buy) stocks is available here.

Market participants remained attentive to various developments occurring within the political landscape. The U.S. Senate has confirmed President Donald Trump’s nominee, White House economic adviser Stephen Miran, to serve on the Federal Reserve board. Nonetheless, an appeals court dismissed Trump’s attempt to remove Fed governor Lisa Cook from the board. The retail sales data was released merely one day prior to the Federal Reserve’s decision regarding interest rate reductions. Reports says that there is a 0.6% increase in retail sales for August, exceeding analysts’ forecasts of a 0.3% rise. Retail sales experienced a year-over-year increase of 5%.