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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 went downhill 51.82 points to 52,309.76.
The much broader index eked up 4.48 points to 7,681.25.
The tech-heavy NASDAQ picked up 60.52 points to 26,239.90.
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 was slightly lower, raising yields to 5% from Monday’s 4.99%. Treasury prices and yields move in opposite directions.
Oil prices slid 40 cents to $101.36 U.S. a barrel.
Gold prices moved upward $16.50 to $4,054.90 U.S. an ounce.
