- U.S. equities were little changed, with the S&P 500 Index adding 0.07% on Sept. 18, 2023 ahead of Wednesday’s announcement from the Fed about interest rates.
- Shares of Apple gained as Morgan Stanley made positive comments about demand for the new iPhone 15.
- Moderna and Pfizer shares declined when Pfizer’s CFO said the drugmaker expects a U.S. COVID-19 vaccination rate of 24% this year.
U.S. equities were little changed, with the S&P 500 up 0.07%%, as investors focused on this week’s Federal Reserve meeting, when it’s expected policymakers will pause raising interest rates as inflation slows.
Shares of Apple (AAPL) advanced 1.7% after Morgan Stanley indicated lead time and preorders for the new iPhone 15 were encouraging.
Lennar (LEN) added 2% as RBC Capital Markets boosted the price target after the home builder reported better-than-expected quarterly results last week.
Ralph Lauren (RL) shares picked up 0.8% as Guggenheim upgraded the stock, saying the high-end clothing retailer had significant growth potential.
Tesla (TSLA) shares dipped 3% after Goldman Sachs predicted the electric vehicle maker’s profit will be hurt by Tesla’s recent price cuts.