The S&P 500 (SPX) is up slightly Wednesday as investors prepare for the release of the Federal Reserve meeting minutes later today. Those meeting minutes will provide traders with greater insight into the Fed’s feelings on the U.S. economy. That matters as the central bank controls interest rates.
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Investors know that interest rate cuts won’t happen anytime soon, no matter how much they want them. Even so, the minutes could give them clues as to how long it will be before the next interest rate reduction. Some experts predict the Fed won’t announce an interest cut again until October.
Despite Fed meeting concerns, the SPX remains resilient with a 0.03% increase as of this writing. The index is also up 3.59% over the past three months and recently hit a record high. All of this is in the face of elevated inflation.
SPX Stock Movement Today
Turning to the TipRanks S&P 500 heatmap tool, traders can see exactly how the index is performing on Wednesday. The heatmap is largely mixed today with plenty of green, red, and grey across it. A few highlights include Tesla (TSLA) jumping 2.8%, Eli Lilly (LLY) rising 1.75%, Intel (INTC) falling 5.33%, and Arista Networks (ANET) dropping 5.4%.
How to Invest in the S&P 500
Investors can’t hold a direct stake in the S&P 500 as it’s only an index. Instead, they might consider buying shares listed on it. Investing options include buying shares down today in hopes of rebounds or picking up rallying stocks if further gains are expected.
A third option available to investors is buying shares of an exchange-traded fund (ETF) that tracks the SPX. There are plenty to choose from with SPDR S&P 500 ETF Trust (SPY) being a popular choice among traders.
