Nasdaq notches record high close, traders look to Fed meeting

Market Performance - The Nasdaq reached a record high close, driven by Microsoft and other technology stocks, as investors anticipate a Federal Reserve interest rate cut to address a slowdown in the jobs market [1][2] - The S&P 500 declined marginally by 0.05%, ending at 6,584.29 points, while the Nasdaq gained 0.45% to 22,141.10 points, and the Dow Jones Industrial Average fell by 0.59% to 45,834.22 points [5] Company Highlights - Microsoft shares increased by 1.8% after the company avoided a significant EU antitrust fine by offering reduced prices for Office products, excluding Teams [3] - Tesla's stock surged by 7.4% following comments from board chair Robyn Denholm, who dismissed concerns regarding CEO Elon Musk's political activities affecting sales [4] - Warner Bros Discovery's shares jumped 17%, continuing a rise after reports of a potential bid from Paramount Skydance for the media company [6] Economic Indicators - The University of Michigan's survey indicated a decline in U.S. consumer sentiment for the second consecutive month, with consumers expressing concerns about business conditions, the labor market, and inflation [5] - Interest rate futures suggest expectations of a total cut of 75 basis points by the end of the year, reflecting concerns over a weakening jobs market [6]