Federal Reserve meeting looms for US stocks

Growing value: A trader works in the S&P 500 stock index options pit in Chicago. Rising estimates for corporate profit growth are supporting stocks. ― Bloomberg

NEW YORK: Investors will be zeroing in on the Federal Reserve’s (Fed) monetary policy meeting soon as a “Goldilocks” market environment that has helped lift stocks to record highs and tamed a bond selloff is tested by rising inflation.

Stocks have climbed steadily in recent weeks and now stand at fresh records, extending a rally that has seen the S&P 500 gain 13% this year and nearly 90% from its March 2020 low.