S&P, Nasdaq Slip Ahead of Fed Decision | Closing Bell

Market Overview - The market is currently in a holding pattern as investors await the Federal Reserve's decision, with a notable amount of selling observed in the S&P 500, where most names are down [2][6] - The S&P 500 is around the 6606 level, with a slight decline of approximately 0.1% [6][7] Sector Performance - The energy sector showed resilience, increasing by about 1.7%, while the utilities sector was the biggest loser, down approximately 1.8% [9] - Overall, there were five sectors in the green and six in the red, indicating a mixed performance across the board [9] Company Highlights - Oracle's stock rose by 1.5% following news that U.S. investors, including Oracle, would control TikTok's U.S. business [10][14] - Moderna's shares increased by 4% after the company reported strong immune responses from its new COVID-19 vaccine formula [15] - Tesla's stock gained nearly 3%, marking a six-day consecutive rise, despite an investigation into potential defects in its vehicle doors [16][17] Notable Decliners - Warner Brothers Discovery's shares fell by 6.2% after a downgrade from TD Cowen, amid uncertainty regarding a potential acquisition by Paramount [17][18] - The New York Times' stock decreased by 1.6% following a $5 billion defamation lawsuit filed against it, which the company claims is without merit [22][23] Future Outlook - There is speculation about a potential rate-cutting cycle starting soon, with expectations of a 100 basis points reduction by the end of January [25][26]