SPY is trading at $754.11 (-0.43%) after the Federal Reserve’s 25-basis-point rate hike to 3.75%-4.00%, its first increase since July 2023.
- The widely anticipated decision limited the immediate market reaction.
- Persistent inflation, energy costs, and Treasury yields near 5% continue to weigh on rate-sensitive technology and growth stocks.
- Strong August retail sales provide partial support.