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 remained lower 11.49 points to 52,350.09.
The much broader index hiked 37.48 points to 7,741.35.
The tech-heavy NASDAQ picked up 247.03 points, or 1%, to 26,418.91.
Shares of Broadcom climbed more than 3% 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 1%, while Advanced Micro Devices advanced nearly 3%.
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 11% 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 were marginally higher after the delivery giant reported better-than-expected results for the third quarter. On the flip side, Whirlpool dropped more than 1% after posting a surprise quarterly loss.
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 $1.39 to $100.37 U.S. a barrel.
Gold prices moved upward $27.70 to $4,066.10 U.S. an ounce.
