On September 17, the National Association of Home Builders (NAHB) released its September Housing Market Index report. The report showed that the NAHB Housing Market Index rose from 39 in August to 41 in September, higher than analysts' expectations of 40. Current sales conditions rose from 44 in August to 45 in September, while sales expectations for the next six months increased from 49 to 53.

NAHB commented: "With inflation easing, the Federal Reserve is expected to begin a monetary policy easing cycle this week, which will put downward pressure on mortgage rates and also reduce the interest rates on loans for land development and residential construction businesses."

In addition, traders also paid attention to the July business inventory report. The report showed that business inventories increased by 0.4% month-on-month, higher than analysts' expectations of 0.3%. The US dollar index broke away from its intraday high after traders reacted to the NAHB Housing Market Index report. Overall, traders are waiting for the Fed's decision, which will be announced tomorrow.

Gold prices stabilized near $2,580, and traders locked in some profits near the historical high. The S&P 500 tested its session high following the release of housing market data as traders focused on a possible dovish stance from the Federal Reserve.