IWM

iShares Russell 2000 ETF

A report that showed resilient retail sales data for August tempered market optimism on Tuesday, with the S&P 500 and the Nasdaq Composite retreating from their all-time highs.

The Fed meeting is scheduled to begin on Tuesday, although its outcome will not be announced until Wednesday.

The market may also keep an eye on the ongoing trade talks between the U.S. and China, their fourth round of negotiations on tariffs, in Madrid.

The bull market rally is broadening, with inflows into underperforming non-tech stocks expected to gain steam when the central bank resumes rate cuts.

Bulls remain in control of the market in the short-term, and the price action is telling them to stay long for now. While investors should continue to be vigilent about seasonality and a potential post-FOMC pullback, price remains king.

Deutsche Bank and Barclays became the latest firms to raise their year-end S&P 500 price targets, citing optimism regarding corporate earnings, the economy and AI.

If approved, Filspari would be the first medication indicated for focal segmental glomerulosclerosis, a rare and serious kidney disorder driven by proteinuria, the company said.

Oracle’s (ORCL) positive near and medium-term outlook has pushed its stock higher in premarket trading, and the guidance has positive readthrough for other artificial intelligence (AI) companies as well.

A steeper downward revision to job numbers for the 12 months through March may stir recession concerns, although traders could take it as a definitive pointer toward a rate cut next week.