US stocks climbed on Tuesday amid investors' anticipation for upcoming earnings reports from Alphabet and Microsoft and ahead of a key decision on interest rates from the Federal Reserve on Wednesday.
Tuesday marked the start of the Fed's two-day meeting, which will determine the direction of future monetary policy. Though majority ofexpect another interest rate hike for July, some view this as a potential conclusion to the bank's tightening cycle. If it raises rates tomorrow, it will market the 11th hike since March 2022, and would bring the federal funds rate to a range of 5.25%-.5.50%, with the Conference Board's consumer confidence index hitting its highest since July 2021.
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