Stocks continued their choppy price action today, as all eyes turned to the Fed and Big Tech. The Dow added triple digits, but the S&P 500 and Nasdaq both finished firmly in the red, the latter suffering amid large-cap weakness from Nvidia (NVDA), Apple (AAPL), and Amazon.com (AMZN).

Despite consumer confidence on the rise and a robust job market, there is a slim chance of an interest-rate cut at the conclusion of the Fed's meeting tomorrow. Instead, CME's FedWatch tool has now priced in a 100% chance of a rate cut for September's meeting. 

Oil Slinks in Third-Straight Loss

Oil prices fell for the third straight day today, this time falling victim to demand concerns in China. September-dated West Texas crude lost $1.08, or 1.4%, to settle at $74.73 a barrel -- its lowest close since early June.

Gold futures bounced back, with the safe-haven asset rising in anticipation of clarity from the central bank tomorrow on the direction of monetary policy. For the session, August-dated gold futures shed 0.2%, to settle at $2,451.9 per ounce.

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