NY Update

Barry Adams
17 Sep, 2026
New York City

Stocks rebounded in New York in early trading following a market sell-off after the Federal Reserve raised rates for the first time in three years. 

The S&P 500 Index increased 0.8%, and the tech-heavy Nasdaq Composite edged up 1.0% as investors recalibrated economic growth and inflation outlook. 

On Wednesday, the Federal Open Market Committee concluded its highly anticipated policy meeting by raising its benchmark interest rate by 0.25 percentage points. 

This decision represents a hawkish turn by the central bank as it aims to combat sticky consumer inflation and manage an economy increasingly influenced by geopolitical conflicts.

Bond yields remained in focus after the Federal Reserve raised interest rates for the first time since July 2023 amid persistent inflation.  

The Federal Reserve unanimously voted to raise its benchmark interest rate by 25 basis points, shifting monetary policy in response to persistent inflationary pressures and a tightening labor market. 

Headline inflation has hovered around 3.4%, driven by sticky shelter, food costs, and global economic disruptions.

Consumer price inflation stayed above the Fed's target rate for the 66th month in a row in August, as oil prices surged above $100 a barrel after the war on Iran entered the seventh month. 

The rate-setting committee raised the Fed funds rate range to between 3.75% and 4.0%, as the Fed struggled to lower inflation to its target rate of 2%.  

16 of 18 members of the committee indicated plans for at least one additional hike later this year, though they project holding rates steady throughout the following year despite inflation remaining above their long-term target.

Later today, weekly jobless claims and housing starts data could offer how elevated interest rates are affecting residential construction and labor market conditions. 

Equity investors remained unfazed by the Fed's latest rate hike after three years, and bull gained control amid expectations of higher profits and a continued boom in artificial intelligence infrastructure. 

 

U.S. Movers 

Generac Holdings soared 34.8% to $236.0 after the power company issued warrants to Amazon Inc. to acquire shares in the company. 

Generac issued warrants to acquire 1.69 million shares valued at $200.93 each. 

As part of the deal, Generac will provide Amazon with backup power generators for its data centers, with the initial purchase to total $2.4 billion in 2027 and 2028, according to a regulatory filing.