The S&P 500 rose to a fresh all-time intraday high on Tuesday, aided by gains in Big Tech, as traders awaited earnings from companies in the sector. Traders also looked ahead to the Federal Reserve’s first policy decision of the year, due Wednesday.
The Dow Jones Industrials withered 409.11 points to close at 49,003.29
The much-broader index picked up 28.36 points to 6,978.59.
The NASDAQ hiked 215.74 points to 23,817.10, due largely to an 18% drop in UnitedHealth.
Apple advanced more than 1%, while Microsoft rose more than 2%. More than 90 S&P 500 will have reported earnings by the end of the week. Meta Platforms and Microsoft, as well as fellow “Magnificent Seven” giant Tesla, are all due Wednesday. Apple will share its results on Thursday.
Shares of several big-name health insurers were among the laggards Tuesday, plunging after the Centers for Medicare & Medicaid Services proposed raising payments to Medicare Advantage insurers by a net average of just 0.09% in 2027. Shares of Humana slid 19%, while CVS Health lost 13%.
Prices for the 10-year Treasury slid a bit, raising yields to 4.23% from Monday’s 4.22%. Treasury prices and yields move in opposite directions.
Oil prices vaulted $1.83 to $62.46. U.S. a barrel.
Gold prices hiked $90.30 to $5,172.80.
