The S&P 500 closed at 7,657 on Sept 11. Will it close higher on Sept 16, the day the Fed announces its rate decision?

The S&P 500 closed at 7,551.81 on September 16, 2026, down about 0.45% for the day and below its September 11 close of 7,657. The decline came after the Federal Reserve raised its benchmark interest rate by a quarter percentage point to a range of 3.75% to 4%, its first rate hike in three years, in a unanimous vote. Stocks traded higher earlier in the session as investors awaited the announcement, but selling accelerated once Fed Chair Warsh told reporters that summer inflation readings did not show underlying trends had meaningfully improved. New quarterly projections showed 16 of 18 policymakers expecting at least one more quarter-point hike before year-end, reinforcing expectations of continued tightening. The Dow Jones Industrial Average fell more than 600 points intraday as Treasury yields and oil prices rose alongside the rate decision. Inflation had run above the Fed's 2% target for more than five years heading into the meeting, giving the central bank cover to act despite growth concerns. Predict Six's community was evenly split heading into the decision, with 50 percent of voters expecting a higher close, reflecting genuine uncertainty about how markets would react to a widely telegraphed but still consequential hike. The index's same-day drop resolved the question to the downside.