US stocks today: US stocks end higher as AI rally lifts Nasdaq ahead of Fed decision

US equities closed higher as a rally in artificial intelligence-linked shares lifted the Nasdaq ahead of the Federal Reserve's policy decision. The move reflects renewed risk appetite concentrated in mega-cap technology names, where investors are pricing in sustained earnings growth from AI infrastructure and software spending. Because the Nasdaq 100 carries heavy weighting in these firms, NDX is the most directly exposed index, with the S&P 500 benefiting through its own large technology allocation. The dollar's reaction is more ambiguous: a stronger risk-on tone can weaken demand for safe-haven currency, but any hawkish signal from the Fed would reinforce USD through rate differentials. Traders will focus on the Fed's policy statement and the press conference tone for guidance on the rate path, since any shift in expected terminal rates would quickly reprice both tech valuations and the dollar.

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.

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