S&P 500, Nasdaq extend gains for second straight session ahead of Fed decision, big tech results

The S&P 500 and Nasdaq 100 extended their gains for a second consecutive session, with equity futures and cash indices rising ahead of the Federal Reserve's policy decision and a slate of quarterly earnings from large technology companies. The move reflects a risk-appetite channel, as investors position for a decision that could shape the path of short-term interest rates and, in turn, the discount rates applied to long-duration growth equities such as large-cap tech. Nasdaq 100 constituents, which carry heavier weighting toward companies whose valuations depend on distant cash flows, are the most sensitive to any shift in rate expectations, while the S&P 500 benefits from broader participation across sectors. The US dollar is exposed through the rate-differential channel: a more dovish-leaning Fed tone would likely pressure the greenback, while a hawkish surprise could reinforce it. Traders will watch the Fed's post-decision statement and the press conference for guidance on the timing of future cuts, alongside hyperscaler capital expenditure commentary in the big tech earnings releases.

The US Dollar (USD) is the world's primary reserve currency and the base for most forex majors. Headlines about Federal Reserve policy, US macro data (CPI, NFP, GDP), and Treasury yield shifts typically drive USD pair direction within seconds of release.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

Active traders typically follow a three-step workflow when a market-moving headline hits the wire: (1) read the headline on the terminal or hear it on the squawk box; (2) assess whether the news is already priced in (by checking intraday price action in the seconds before) or whether it's genuinely new information; (3) act — either entering a breakout position, fading an overreaction, or tightening stops on existing trades. Trading News Terminal's Pro plan delivers wire-grade headlines within seconds of the source, with automatic audio squawk on every HIGH-impact event, so the read-assess-act cycle never waits on a refresh button.