Stock market today: S&P 500 breaches 7,000 mark Wall Street braces for Fed decision, Big Tech earnings

Group 1 - US stocks, particularly the S&P 500, reached a new high driven by enthusiasm for AI and upcoming earnings reports from major tech companies [1] - ASML experienced a record surge in orders for its chipmaking machines, boosting optimism for sustained growth in the AI sector, positively impacting shares of Nvidia and TSMC [2] - Microsoft and Meta Platforms are set to report earnings, having heavily invested in AI-focused data centers reliant on ASML's chips, with Tesla also reporting results [3] Group 2 - Investors are anticipating the Federal Reserve's interest rate decision, expected to maintain rates between 3.5% and 3.75%, with a focus on future rate cuts indicated by Chair Jerome Powell [4] - The recent decline in the US dollar may influence rate expectations, as it reached its lowest level since 2022, following comments from President Trump regarding tariffs [5] - Political tensions surround the Federal Reserve, with a criminal investigation against Powell and speculation about his potential successor being announced by President Trump [6]