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 broad market index was up 0.6% to end at 7,722.60, while the Dow Jones Industrial Averageadded 15.99 points, or 0.03%, to close at 52,377.57. The Nasdaq Composite gained 1.18% to settle at 26,477.81.
Shares of Broadcom climbed 4% on the heels of a coalition of banks — namely, Bank of America, Citiand Morgan Stanley — and Blackstone announcing $63 billion in financing for the purchase of Broadcom’s technology for Anthropic. Other chipmakers rose in sympathy. Micron Technologywas up almost 3%, while Advanced Micro Devicesgained 5%.
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.
