- The Nasdaq finished more than 2% higher and
oil hovered around $100 a barrel. - Investors are anticipating the Fed's monetary policy decision Wednesday, when it is widely expected to raise interest rates for the first time since 2018.
Major US indexes soared Tuesday, with the S&P 500 closed with its first gain in three sessions. Tech stocks pulled the Nasdaq nearly 3% higher and oil prices continued to hover below $100 as COVID-19 restrictions in China threaten to hamper demand.
Investors are anxiously anticipating the results of ceasefire talks between Ukraine and Russia, as well as the Fed's looming monetary policy decision Wednesday, when the central bank is expected to raise interest rates for the first time since 2018.
Here's where US indexes stood as the market closed at 4 p.m. on Tuesday:
- S&P 500: 4,262.71, up 2.15%
- Dow Jones Industrial Average: 33,545.59, down 1.82% (600.35 points)
- Nasdaq Composite: 12,948.62, up 2.92%
On Tuesday, AMC Entertainment purchased a 22% stake in a Nevada gold mine to diversify away from its movie theater business.
In the broader market, companies are on pace to buy back a record $1 trillion in stock in 2022 as
At the same time, a downbeat outlook for global growth is causing fund managers to hoard cash at a rate not seen since the start of the pandemic, according to Bank of America.
Overseas, Saudi Arabia and
Oil dropped further from recent highs West Texas Intermediate crude is down more than 6.912% to $95.89 a barrel. Brent crude, the international benchmark, is down about 7.28% to $99.21 a barrel. UBS says it doesn't expect prices to remain low for long.
Gold dropped to 1,920.50 per ounce. The 10-year yield was down to 2.106.
Bitcoin rose 2.63% to $39,776.00.