The S&P 500 rose 0.3% and the Nasdaq gained 0.4%|Balon Greyjoy

The stock market hit record highs ahead of the Fed’s decision on interest rates. The S&P 500 gained 0.3% and closed at 5,360.79, while the Nasdaq Composite rose 0.4% to 17,192.53.

Southwest Airlines and Diamond Offshore Drilling were among the market’s biggest gainers. Among tech players, Microsoft, Nvidia and Amazon surged.

Apple stock dropped 1.9% on its AI rollout.