4:20pm: Wall Street ends mixed
Stocks closed essentially level on Tuesday, with the S&P 500 setting a new record high, as investors weighed interest rate prospects and awaited the release of the Federal Reserve's latest meeting minutes.
By 4pm, the S&P 500 edged up 0.2%, gaining 15 points to close at 6,130, marking a fresh all-time high after a late-session rally. The Dow Jones finished nearly flat, adding 10 points, or 0.02%, to end at 44,556. Meanwhile, the Nasdaq gained 0.1%, rising 14 points to settle at 20,041.
Investor sentiment remained cautious throughout the session, with attention focused on the Federal Reserve's policy outlook. Treasury yields climbed, with the benchmark 10-year yield rising to approximately 4.54%, reflecting continued uncertainty over the timing and magnitude of potential rate cuts this year.
Technology stocks, particularly semiconductor companies, provided a lift to the broader market. Shares of Nvidia, Micron, and Intel advanced, helping drive gains in the S&P 500 and Nasdaq.
Despite the milestone for the S&P 500, trading volumes were relatively subdued as market participants awaited further clues on monetary policy. The Federal Reserve's January meeting minutes, due for release on Wednesday, are expected to provide additional insight into policymakers' thinking on inflation and interest rates.
2:35pm: Investors eye Fed minutes
Stocks were lower on Tuesday afternoon as investors awaited further signals on interest rates from the Federal Reserve. The Dow fell 0.4%, while the Nasdaq declined 0.3%. The S&P 500 was down 0.1% but remained close to its record high.
Federal Reserve officials have signaled a preference to keep rates steady to curb inflation, with investors closely watching Wednesday’s release of the central bank’s January meeting minutes for further guidance. Treasury yields climbed as markets assessed the outlook for potential rate cuts later this year.
Elsewhere, U.S.-Russia discussions on the Ukraine conflict continued, while European stock markets hovered near all-time highs, supported by expectations of increased defense spending.
12:30pm: Broad-based gains
Investors briefly drove the Nasdaq 100 to a record high before pulling back, as funds shifted from expensive US mega-cap stocks to more affordable European stocks.
"The tech-heavy index is now up 5.3%, an impressive feat considering the volatility from DeepSeek, tariffs, and interest rates," LPL Financial's Adam Turnquist noted on Tuesday.
"Gains have also been broad-based, evidenced by a simultaneous breakout on the equal-weighted Nasdaq 100."
11:16am: Record levels
Stocks are showing a mixed performance in midmorning trading on Tuesday, with the S&P 500 edging closer to its all-time high.
The benchmark index is up 0.1%, trading at 6,122, just a few points shy of its record closing level. Meanwhile, the Dow Jones Industrial Average is down 0.1%, sitting at 44,524, while the Nasdaq Composite has gained 0.2%, reaching 20,033.
Investor sentiment remains cautious as the market digests recent economic data and anticipates the release of the Federal Reserve's January meeting minutes on Wednesday. Analysts are looking for clues on the central bank's stance regarding future interest rate moves.
In individual stock news, Intel shares have surged 6% after reports surfaced that Broadcom and Taiwan Semiconductor Manufacturing Co. are considering bids for parts of the company. This has contributed to a positive tone in the semiconductor sector, with broader gains in the industry.
Despite some morning weakness, technical indicators point to the potential for a higher close today. The S&P 500 continues to trade above all major moving averages, a signal that suggests bullish momentum could persist.
9.53am: Mixed start to shortened week
Wall Street faced a mixed start to the shortened week on Tuesday as preliminary talks between Russia and the US over the war in Ukraine came to an end.
Though no resolution was reached in the first round of talks in Saudi Arabia, pledges had emerged for continued discussions on bringing about an end to the conflict.
“The lack of a resolution is no surprise,” XTB analyst Kathleen Brooks noted, flagging agreements to work on ending the war “as soon as possible” and finding a solution “sustainable and acceptable to all sides”.
Having each risen over the course of last week, the Nasdaq moved up 0.3% after Tuesday’s opening bell, as the S&P inched upwards and the Dow Jones shed 0.2%.
Among companies, Grail Inc was among early risers, gaining 14% after unveiling a deal with Quest Diagnostics to expand access to its multi-cancer early detection test.
Walgreens Boots Alliance Inc and Super Micro Computers Inc also racked up gains, while Medtronic PLC dropped 7% after the medical device firmed underwhelmed with third quarter figures.
6.34am: Wall Street set for gains
Wall Street appeared on course to kick off the shortened week on a positive footing as Tuesday’s open approached.
Futures had the Nasdaq up 0.4% before the bell, while the S&P 500 and Dow Jones were seen 0.3% and 0.1% higher respectively.
The trio had climbed last week prior to the holiday weekend, as fears around tariffs under Donald Trump appeared to partially dissipate with plans for reciprocal measures against countries with levies on US goods.
Attention has turned to discussions around the Ukraine war though, with talks between Russia and the US in Saudi Arabia taking place on Tuesday.
“We are still in the very early stages of any potential negotiations, updates from today’s meetings will be worth watching closely,” XTB analyst Kathleen Brooks noted.
Gold ticked up 0.4% to US$2,912 an ounce, while benchmark Brent crude climbed 1.3% to US$75.57 a barrel on Tuesday as the talks loomed.
“The increase in the gold price and the price of oil are signs of anxiety in financial markets that a deal may not be reached, and the war could continue,” Brooks added.