U.S. stocks opened largely flat on Friday after surging to a new all-time high in the previous session, with Wall Street’s attention now firmly on the upcoming Federal Reserve meeting. Summary Stocks were little changed on Friday after outperforming on Thursday to extend weekly gains. Investors are now awaiting the highly-anticipated Federal Reserve interest rates decision next week. The Dow Jones Industrial Average was down 0.14%, or 60 points, while the S&P 500 hovered around 6,587, down 0.08%. Meanwhile, the Nasdaq Composite was near the flat line at -0.02%. But all the major indexes remained near fresh highs, with U.S. stocks on track for a positive week. Notably, investor attention is on the Federal Reserve, with the U.S. central bank’s September meeting a highly anticipated event. The stock market’s upbeat picture also had cryptocurrencies trending upward. Bitcoin (BTC) held onto gains after breaking above $114,000, while a likely altcoin bounce pushed the likes of Solana and XRP higher. You might also like: Figure’s $7.6b IPO debut shows appetite for real-world blockchain firms All eyes on Fed With the Federal Reserve interest rate decision a near certainty next week, trader sentiment pushed the Dow Jones Industrial Average to a record close above 46,000. The blue-chip index’s jump also reflected across the other major gauges, with the benchmark S&P 500 and tech-heavy Nasdaq extending gains at their respective record highs. Although the consumer price index report for August showed prices rose 0.4% compared to the forecast 0.3% and July’s 0.2%, the core CPI came in line with projections, and Wall Street maintained its largely bullish bet for a 25% Fed rate cut next week. The outlook comes down to economic data, with the latest jobs reports pointing to continued labor market weakness and inflation remaining sticky. However, investors’ bet on a Fed rate cut stands at over 90%, and there is a belief the central bank will make further cuts before the end of the year. “With the US CPI numbers matching the consensus forecasts, the main market mover this morning is jobless claims, which came in far higher than expected,” Mohamed El-Erian, president Queens’ College, Cambridge and Allianz advisor, commented. “The overall signal from this week’s data is clear—and one I’ve stressed for some time, now increasingly echoed by others: inflation may still sit above the Fed’s target, but the greater risk to the economy lies in the pace and severity of labor market weakening.” Analysts have lifted forecasts for the major gauges, both for the end-of-year outlook and for 2026. You might also like: S&P 500 hits record high as stocks rise after latest jobs report