The S&P 500 was relatively unchanged on Tuesday as Wall Street looked ahead to this week’s interest rate decision from the Federal Reserve.
The Dow Jones Industrials stumbled 178.51 points to close Tuesday at 47,560.81, dragged down by a decline in JPMorgan shares on higher-than-expected 2026 expense projections.
The much-broader index slid 5.99 points to 6,840.52.
The NASDAQ gained 30.58 points to 23,576.49.
Shares of Broadcom rose almost 3%, while Nvidia and Microsoft each added about 2%, on the back of a report from The Information that Microsoft is considering designing custom chips with Broadcom.
In the broader market, CVS was among the winners of the trading day, rising 4% after the drugstore chain issued a better-than-expected profit outlook for next year.
Traders are waiting for the Fed’s highly awaited interest rate decision on Wednesday, which will be the last of the year.
Markets are betting that the central bank will lower its key overnight lending rate by another quarter percentage point as it did at its meetings in September and October.
Fed funds futures suggest an 89% chance of a decrease, up from under 67% about a month ago.
Prices for the 10-year Treasury were down slightly, raising yields to 4.18% from Monday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices slumped 52 cents to $58.36.
Gold prices recovered $24.30 to $4,242.
