It’s a rather quiet session on Tuesday, with major U.S. averages trading around the flatline at midday trading in New York. Traders remained on the sidelines ahead of Wednesday’s Federal Open Market Committee (FOMC) meeting minutes and Nvidia Corp. (NASDAQ:NVDA) earnings report. Tuesday saw Federal Reserve officials making public statements with mixed messages. Atlanta Fed President Raphael Bostic said he expects inflation to decline but at a slow pace, and he does not foresee a rate cut before
Tech stocks were mixed Tuesday afternoon, with the Technology Select Sector SPDR Fund rising 0.2% and the SPDR S&P Semiconductor ETF down 0.5%.
The Philadelphia Semiconductor index fell.
Keysight Technologies Inc. (NYSE: KEYS) reported relatively healthy second-quarter fiscal 2024 results, with the bottom and the top lines surpassing the respective Zacks Consensus Estimate. However, the company reported a top-line decline year over year.
US stocks edged higher on Tuesday, with the S&P 500 and Nasdaq both reaching new heights, though gains were modest as investors showed caution ahead of Nvidia's blockbuster earnings and minutes from the latest Federal Reserve policy meeting.
4:12pm: Another record-breaking session The three major US stock indexes finished modestly higher as investors largely held off making any significant bets.