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The S&P 500 rose 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 meeting, due Wednesday.
The Dow Jones Industrials withered 508.26 points, or 1%, to 48,904.14
The much-broader index picked up 24.82 points to 6,975.05.
The NASDAQ hiked 208.55 points to 23,809.91, due largely to an 18% drop in UnitedHealth.
Apple advanced nearly 2%, while Microsoft advanced 1.3%. More than 90 S&P 500 companies are slated to report quarterly earnings this 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 18%, while CVS Health lost 10%.
Prices for the 10-year Treasury stayed put, keeping yields at 4.22%.
Oil prices gained 57 cents to $61.20 U.S. a barrel.
Gold prices sagged $9.50 to $5,073.
