Nasdaq and S&P 500 Close Higher After Fed Rate Hike
On September 18, 2026, the Nasdaq Composite (QQQ) and S&P 500 closed slightly higher after a week marked by the Federal Reserve's first interest rate hike in three years. The market initially dipped but recovered as Treasury yields stabilized below 5%, allowing large-cap tech stocks like those in the Magnificent Seven to gain traction. The Nasdaq 100 and semiconductor sector (SMH) were among the top performers, with SMH rising nearly 3%. However, small-cap Russell 2000 (IWM) lagged behind. Analyst James DePorre noted that market breadth was positive, with over two-thirds of stocks advancing. Berkshire Hathaway (BRK.A) also made headlines as Warren Buffett announced his transition from chairman to chairman emeritus, passing the role to his son Howard Buffett.
Topics: Berkshire Hathaway leadership change Federal Reserve rate hike Nasdaq S&P 500