US Stock Indexes Rise Ahead of Fed Meeting; Tesla, Alphabet, and Cororeweave Rally

Market Performance and Federal Reserve Expectations

• 📈 The three major US stock indexes closed higher on Monday, with the S&P 500 and Nasdaq reaching intraday record highs.
• 💡 Market movements are largely attributed to the anticipation of an interest rate cut by the Federal Reserve this week.
• 🎯 Traders are pricing in a 96% chance of a 25 basis point cut at the upcoming meeting, with some hoping for a larger or quicker reduction.

Key Stock Movements

• 🚗 Tesla shares gained 3.5% following news that CEO Elon Musk acquired nearly $1 billion worth of company stock.
• 💻 Alphabet (Google's parent company) shares increased 4.5%, hitting a record high and surpassing a $3 trillion market cap.
• ⚡ Cororeweave added over 7.5% after announcing a deal with Nvidia, guaranteeing Nvidia's purchase of unsold cloud capacity, with an initial value of $6.3 billion.