US close: Stocks mixed as traders look ahead to Fed decision

(Sharecast News) - Major indices delivered a mixed performance on Thursday as traders looked ahead to next week's all-important FOMC interest rate decision.

At the close, the Dow Jones Industrial Average was down 0.59% at 45,834.22, while the S&P 500 shed 0.05% to 6,584.29 and the Nasdaq saw out the session 0.44% firmer at 22,141.10.

The Dow closed 273.78 points lower on Friday, taking a bite out of solid gains recorded in the previous session.

Stocks struggled for direction on Friday as investors looked ahead to next week's Federal Reserve policy decision, with markets largely expecting a 25-basis point rate cut on 17 September. Futures pricing reflected near-certainty around the move, as traders weighed recent inflation data and soft labour market indicators against the Fed's cautious messaging.

On the macro front, the University of Michigan's consumer sentiment index dropped to 55.4 in September, down from 58.2 in August and well below market expectations of 58, according to preliminary estimates. The preliminary reading pointed to a second consecutive monthly decrease, pushing sentiment to its lowest level since May, with declines strongest among lower- and middle-income households. Personal finance views fell 8%, with roughly 60% of respondents still citing tariffs as a key issue. The current conditions index deteriorated to 61.2 from 61.7, and the expectations gauge fell to 51.8 from 55.9.

In the corporate space, Nvidia edged higher following reports that the chipmaker was set to invest billions of dollars in UK data centres through a partnership with London's Nscale Global, while Adobe traded higher after its third-quarter results surpassed market forecasts.

Tech giant Microsoft rose after avoiding a fine from the European Union following commitments it made to address competition concerns over how it packaged its Teams platform, and Warner Bros Discovery shares rallied on reports that Paramount Skydance was working on an offer for the company.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Apple Inc. (AAPL) $233.82 3.10%

Microsoft Corp. (MSFT) $510.83 2.09%

Walmart Inc. (WMT) $103.39 0.72%

JP Morgan Chase & Co. (JPM) $307.23 0.55%

Unitedhealth Group Inc. (UNH) $354.41 0.23%

Dow Chemical Co. (DOW) $25.04 0.08%

Walgreens Boots Alliance, Inc. (WBA) $11.98 0.00%

Dowdupont Inc. (DWDP) $0.00 0.00%

Caterpillar Inc. (CAT) $431.13 -0.06%

Travelers Company Inc. (TRV) $279.26 -0.06%

Dow Jones - Fallers

Cisco Systems Inc. (CSCO) $66.47 -2.44%

Merck & Co. Inc. (MRK) $83.20 -2.29%

Intel Corp. (INTC) $24.24 -2.16%

Boeing Co. (BA) $216.18 -1.73%

International Business Machines Corporation (CDI) (IBM) $252.57 -1.73%

Nike Inc. (NKE) $73.09 -1.67%

Salesforce.Com Inc. (CRM) $242.93 -1.36%

American Express Co. (AXP) $326.00 -1.01%

Visa Inc. (V) $340.07 -1.00%

McDonald's Corp. (MCD) $305.51 -0.95%

S&P 500 - Risers

Micron Technology Inc. (MU) $157.66 12.61%

Synopsys Inc. (SNPS) $425.95 9.84%

Lam Research Corp. (LRCX) $117.38 9.34%

PACCAR Inc. (PCAR) $103.18 4.59%

NRG Energy Inc. (NRG) $165.04 4.51%

Sl Green Realty Corp. (SLG) $65.98 4.18%

CH Robinson Worldwide Inc (CHRW) $132.28 3.64%

KLA-Tencor Corp. (KLAC) $965.90 3.57%

Expedia Group Inc. (EXPE) $222.79 3.39%

Tractor Supply Company (TSCO) $60.38 3.29%

S&P 500 - Fallers

Arista Networks Inc. (ANET) $139.10 -9.11%

Gap Inc. (GAP) $22.77 -6.03%

Kohls Corp. (KSS) $15.28 -5.33%

Netflix Inc. (NFLX) $1,185.27 -5.00%

Oracle Corp. (ORCL) $293.06 -4.81%

Royal Caribbean Cr (RCL) $337.49 -3.64%

Estee Lauder Co. Inc. (EL) $83.79 -3.48%

Pfizer Inc. (PFE) $24.00 -3.46%

Incyte Corp. (INCY) $83.38 -3.33%

Under Armour Inc. Class A (UAA) $4.87 -3.18%

Nasdaq 100 - Risers

Tesla Inc (TSLA) $395.37 13.68%

Micron Technology Inc. (MU) $157.66 12.61%

Synopsys Inc. (SNPS) $425.95 9.84%

Lam Research Corp. (LRCX) $117.38 9.34%

Qvc Group Inc Series A (QVCGA) $11.27 8.57%

Baidu Inc. (BIDU) $114.78 6.67%

NetEase Inc. Ads (NTES) $152.67 4.75%

PACCAR Inc. (PCAR) $103.18 4.59%

Liberty Global plc Series A (LBTYA) $11.95 3.60%

KLA-Tencor Corp. (KLAC) $965.90 3.57%

Nasdaq 100 - Fallers

Netflix Inc. (NFLX) $1,185.27 -5.00%

Incyte Corp. (INCY) $83.38 -3.33%

Cisco Systems Inc. (CSCO) $66.47 -2.44%

Broadcom Inc. (AVGO) $360.64 -2.42%

Intel Corp. (INTC) $24.24 -2.16%

Kraft Heinz Co. (KHC) $26.12 -1.99%

Sirius XM Holdings Inc (SIRI) $23.36 -1.89%

Intuit Inc. (INTU) $647.03 -1.41%

Hologic Inc. (HOLX) $64.59 -1.40%

Comcast Corp. (CMCSA) $33.03 -1.36%