The S&P 500 and Nasdaq rose as semiconductor stocks led gains, with investors positioning ahead of the Federal Reserve's October policy decision. The rally in chipmakers transmits through the equity risk appetite channel, as semiconductor strength tends to lift index-level sentiment and the high-multiple technology names that dominate the Nasdaq 100. Nasdaq 100 constituents with heavy AI-infrastructure exposure are most sensitive to chip-sector moves, and Oracle (ORCL) is named among the stocks in focus, linking the headline to the broader enterprise cloud and AI spending narrative. The dollar is exposed through the rate-expectations channel, since the expected path of Fed policy drives USD moves against major currencies and Treasury yields. Traders will watch the upcoming September CPI inflation release and the pricing of the October FOMC meeting, as any shift in expected rate cuts would reprice both the dollar and long-duration growth equities.
S&P 500, Nasdaq Jump On Chipmaker Strength As Investors Eye October Fed Decision — ORCL, HOOD, JBLU, RIVN, SMCI In Focus
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