The S&P 500 rose on Tuesday as enthusiasm surrounding chipmakers led traders to move into the names for another day. Investors also monitored a slide in oil prices and parsed through a slew of corporate earnings as the Federal Reserve began its two-day policy meeting.
The Dow Jones Industrials moved deliberately ahead 16.82 points to 52,378.40.
The much broader index acquired 45.9 points to 7,722.67.
The tech-heavy NASDAQ accelerated 308.43 points, or 1.2%, to 26,477.81.
Shares of Broadcom climbed 4% on the heels of a coalition of banks — namely, Bank of America, Citi and Morgan Stanley — and Blackstone announcing $63 billion in financing for the purchase of Broadcom’s technology for Anthropic.
Other chipmakers rose in sympathy. Micron Technology was up more than 3%, while Advanced Micro Devices advanced 5%.
The latest moves in those stocks add to their gains from the prior trading day, which saw the major averages record a winning session, thanks in part to a boost in artificial intelligence-related stocks after Anthropic filed to go public at the NASDAQ. This would mark another major tech IPO for 2026, following SpaceX’s blockbuster listing in June.
Meanwhile, JetBlue jumped 18% despite the airline posting a larger-than-expected third-quarter loss, as the company said it expects to see further margin expansion in the fourth quarter. UPS shares added 5% after the delivery giant reported better-than-expected results for the third quarter.
The Fed is set to deliver its rate policy decision on Wednesday afternoon. While the central bank is expected to keep rates unchanged, traders will look for clues on whether another rate hike will take place before year-end.
The latest moves in those stocks add to their gains from the prior trading day, which saw the major averages record a winning session, thanks in part to a boost in artificial intelligence-related stocks after Anthropic filed to go public at the NASDAQ. This would mark another major tech IPO for 2026, following SpaceX’s blockbuster listing in June.
Prices for the 10-year Treasury inched forward, lowering yields to 4.98% from Monday’s 4.99%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.97 to $99.79 U.S. a barrel.
Gold prices improved $38.10 to $4,076.50 U.S. an ounce.
