Stocks Edge Higher Ahead of Fed Decision | Closing Bell

Market Overview - The market is experiencing modest gains, with the S&P 500 close to reclaiming its record high after two consecutive days of increases [2][5] - The Dow Jones Industrial Average rose by approximately 0.9%, while the S&P 500 added about 21 points, or 0.3% [5][6] - The Nasdaq composite showed minimal growth, with big tech stocks lagging behind, indicating a mixed performance across sectors [6][8] Sector Performance - Energy, financials, industrials, and consumer discretionary sectors posted significant gains, while communication services, utilities, and information technology sectors lagged [8][6] - The Dow transports and Russell 2000 indices outperformed, with increases of 2% and 1.9%, respectively [6] Company Earnings - Salesforce reported a fourth-quarter revenue forecast of $11.13 billion to $11.23 billion, exceeding street estimates, leading to a stock increase of about 6% in after-hours trading [9][10] - The third-quarter adjusted EPS for Salesforce was $3.25, surpassing the estimate of $2.86, while revenue was in line with expectations at $10.26 billion [10][11] - Five Below reported a 23% increase in net sales, reaching $1 billion, and provided a positive outlook for the next quarter, guiding for net sales between $1.58 billion and $1.61 billion [16][17] Technology Sector Insights - Salesforce's AI tool, Agent Force, has closed over 9,500 paid deals, contributing to an annual recurring revenue of $1.4 billion [19][20] - Snowflake's revenue for the most recent quarter was $1.16 billion, in line with estimates, but shares fell by about 5% in after-hours trading due to only slight increases in product revenue forecasts [22][23] Consumer Spending Trends - The retail sector shows a bifurcated consumer landscape, with high-end consumers continuing to spend while middle-income consumers are trading down [30] - Overall, the earnings season indicates better-than-expected performance in business and consumer spending, with a cautious outlook for future consumer behavior [28][29]