Market Jitters: Wall Street Awaits Fed's Decisive Meeting

Wall Street ended lower on Monday, with major indices in decline as investors anxiously awaited the Federal Reserve policy update. While optimism exists for a December rate cut, the market remains directionless pending the Fed's decision amid high Treasury yields and significant corporate takeovers in the spotlight.

Wall Street's main indices closed in the red on Monday as investors eagerly awaited a crucial Federal Reserve monetary policy update. Most sectors within the S&P 500 experienced losses, and although hopes for a December rate cut have been bolstered by recent consumer spending data, the market remains tense.

In a day marked by volatility, Paramount Skydance drew significant investor focus with its hostile bid of $108.4 billion to acquire Warner Bros Discovery, challenging Netflix in the process. This move sent Warner Bros Discovery shares up, while Netflix's shares dragged on the S&P 500 Communication Services Index.

Technology stocks were the day's standout, powered by giants like Microsoft and Nvidia. Meanwhile, anticipation builds around upcoming tech earnings reports, and Confluent shares surged on IBM's acquisition news. Tesla's stock dipped following a pessimistic outlook from Morgan Stanley, and the watch continues for the Fed's next move.

(With inputs from agencies.)