S&P 500 Hits Record on Technology Gains Ahead of Fed Meeting

Gains in technology stocks helped push the S&P 500 Index to its first record in more than two weeks ahead of the Federal Reserve’s interest-rate decision on Wednesday.

The benchmark index closed 0.4% higher on Tuesday, extending its winning streak to a fifth session. The S&P 500 has approached the 7,000-point milestone but hasn’t broken through yet, something Goldman Sachs Group Inc. attributes to positioning by market makers.