The Federal Reserve kept its benchmark rate within a range of 3.75% to 4% after a 10-2 vote. Lisa D. Cook and Beth M. Hammack dissented in favor of a 25-basis-point increase, highlighting the risk of tighter monetary policy if inflation remains elevated. Wall Street then focused on AI-related stocks and earnings season, with S&P 500 third-quarter profit growth projected at 25% to 27%. The AI rebound was driven in part by Anthropic’s planned initial public offering and financing deals involving chip suppliers. Investors will watch capital spending guidance from major technology companies, semiconductor demand and the next inflation data.
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