07:43 AM EDT, 03/18/2024 (MT Newswires) -- US equity investors will focus on the monetary policy meeting this week, especially the interest-rate cut projections for 2024, and Nvidia's ( NVDA ) GPU Technology Conference for clues on the strength of the tech-driven rally in the broader market.

*There is growing speculation that the Fed may alter its monetary policy outlook as inflation last week continued to surprise investors for a second month in February, weakening a narrative that January's hotter-than-expected inflation data was just a blip.

*The Fed meeting could be highly consequential because policymakers will issue a new Summary of Economic Projections and new dot-plot, likely to "set the tone for the action that emerges afterward," Macquarie said last week.

*Technology and communication services, top performers over the past three months, were in the bottom four over the past month as of the close on Friday. Investors will be watching closely for a change in leadership sectors.

*Nike ( NKE ) , Lululemon (LULU), FedEx ( FDX ) , and Micron (MU) will report their quarterly results this week.

*Nvidia's ( NVDA ) GPU Technology Conference this week will continue positive sentiment about the tech giant, Wedbush said last week. Nvidia ( NVDA ) has been a major force in the S&P 500 and the Nasdaq Composite rally since the October bottom.