Latest Market Moves

The Fed’s decision is the next big event for investors to digest this week, and the market looks to be betting that it will signal a dovish policy stance. Big-box retailer Walmart and Lyft rose on the assumption that lower rates will boost consumers’ wallets. URL http://www.stagetec.co.uk/

Investors also pushed technology stocks higher. Nvidia dipped more than 1% in the premarket after The Financial Times reported, citing sources, that China’s internet regulator banned tech companies in the country from buying the artificial intelligence chip maker’s products. Shares of AMD fell as well in sympathy.

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Software maker Workday was up about 9% after Paul Singer’s hedge fund Elliott Investment Management took a $2 billion stake in the company. The fund also increased its share repurchase program to $4 billion.

Elsewhere, biopharmaceutical company Cytokinetics rose nearly 1% after it announced it plans to raise up to $650 million through an offering of convertible senior notes due in 2031. The offering will be priced at a discount to its current market price.

Economic data was mixed. Building permits came in below expectations, while housing starts slid to the lowest level since December. The weaker-than-expected readings may tamp down speculation that the Fed will cut rates in September. That would weigh on Treasury yields, which slipped modestly. The 2-year Treasury note finished the week with a yield of 3.69%, while the 10-year bond yield was 4.26%.