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Headlines
- The S&P 500, Dow Jones, and Nasdaq 100 experienced minor fluctuations, with the S&P 500 rising by 0.03%, the Dow Jones decreasing by 0.04%, and the Nasdaq 100 advancing by 0.05%.
- Early gains were offset by selling pressure in the afternoon, as bond yields increased in anticipation of the FOMC meeting results.
- Positive news from major corporations and strong economic reports contributed to market stability, with notable performances from Intel and Microsoft.
On Tuesday, the S&P 500 Index increased by 0.03%, the Dow Jones Industrials Index decreased by 0.04%, and the Nasdaq 100 Index advanced by 0.05%. Financial stocks showed minimal change as gains made earlier in the day were reduced by selling pressures in the afternoon, driven by rising bond yields ahead of the FOMC meeting results to be released on Wednesday.
Early in the session, the S&P 500 and Dow Jones Industrials achieved new record highs, and the Nasdaq 100 climbed to a two-and-a-half-week peak. Positive corporate earnings and economic news fostered optimism in the U.S. economic outlook, which supported the markets.
Intel saw a boost of over 2% following its acquisition of new business from Amazon.com. Additionally, Microsoft closed nearly 1% higher after announcing a 10% increase in its quarterly dividend and a new $60 billion stock repurchase program. The market also benefited from stronger-than-expected U.S. economic reports on retail sales and manufacturing production, which supported the prospects for economic stability.
