Dow Springs, S&P Stays Put

The S&P 500 ended Tuesday near the flatline as Wall Street waits for the latest Federal Reserve decision on interest rates.

The Dow Jones Industrials leaped 133.86 points to adjourn Tuesday at 38,467.31.

The S&P 500 index sagged 2.96 points to 4,924.97.

The NASDAQ tumbled 118.15 points to 15,509.90.

General Motors shares popped nearly 8% after the automaker posted better-than-expected earnings. Cybersecurity stock F5 gained just shy of 1% on the back of a better-than-expected financial report, while electronics manufacturer Sanmina soared more than 28% after posting strong earnings per share and current-quarter guidance.

Elsewhere, appliances maker Whirlpool shed 6.6% after sharing a worse-than-expected outlook for the full year. JetBlue fell 4.7% after forecasting little to no revenue growth in 2024, and costs per available seat mile rising in the mid- to high single digits, excluding fuel.

Those reports come ahead of major tech reports due out post-market, including Microsoft and Alphabet

Traders will watch for updates out of the Federal Open Market Committee’s two-day policy meeting that got underway Tuesday. The fed funds futures market has priced in a 97% probability that the central bank will leave rates unchanged.

Prices for the 10-year Treasury regained strength, lowering yields to 4.04% from Monday’s 4.08%. Treasury prices and yields move in opposite directions.

Oil prices regained 96 cents to $77.74 U.S. a barrel.

Gold prices surged $9.80 to $2,054.40.

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