US markets today: Stocks hover near record highs as investors await Fed decision; Nvidia, Caterpillar and Teradyne lead gains

Market Overview - The S&P 500 increased by 0.3%, the Dow Jones Industrial Average rose by 193 points (0.4%), and the Nasdaq Composite gained 0.7%, all near all-time highs, driven by expectations of a Federal Reserve rate cut to support a cooling job market [4][6] - Bond yields remained steady, with the 10-year Treasury yield decreasing to 3.98% from 3.99%, indicating investor caution ahead of the Fed's announcement [4][6] - The equity rally is supported by hopes for lower borrowing costs, although the Fed has cautioned about pausing its easing cycle if inflation accelerates [4][6] Company Earnings - Caterpillar's stock surged by 9.3% after reporting better-than-expected quarterly profit and revenue, attributed to strong demand for construction and mining equipment [5][6] - CVS Health's shares climbed by 3.1% after surpassing profit estimates, despite reporting losses from reducing new primary care clinic openings [5][6] - Teradyne's stock soared by 19% following stronger-than-expected results, with robust demand for AI-related testing cited by CEO Greg Smith [5][6] - Nvidia's stock rose by 4.9%, making it the first company to achieve a $5 trillion market capitalization, significantly boosting the S&P 500 [5][6] - Mondelez International's shares fell by 3.3% despite solid earnings, as the company warned of ongoing challenges from record cocoa prices, although some moderation is expected [5][6] Global Market Performance - Asian markets closed higher, with Japan's Nikkei 225 rising by 2.2% to a new record and South Korea's Kospi increasing by 1.8% following a meeting between President Trump and South Korea's leader [5][6] - Shanghai's Composite Index gained 0.7% ahead of Trump's meeting with Chinese President Xi Jinping amid ongoing trade tensions [5][6] - European stocks showed mixed performance as investors monitored global central bank actions and corporate earnings [5][6]