S&P 500 Hits New High Before Big Tech Earnings, Fed: Stock Market Today
The tech-heavy Nasdaq also shone in Tuesday's session, while UnitedHealth dragged on the blue-chip Dow Jones Industrial Average.
Stocks were mixed Tuesday as investors looked ahead to a busy stretch of mega-cap earnings announcements and tomorrow's policy statement from the Federal Reserve. While the S&P 500 and Nasdaq Composite extended their daily win streaks to five, the Dow Jones Industrial Average finished the session in the red.
At the close, the S&P 500 was up 0.4% at 6,978 – a new record high – and the Nasdaq was 0.9% higher at 23,817. This marked the fifth straight win for each index.
Boosting them both was positive price action for several Big Tech stocks ahead of their respective turns on the earnings calendar. Meta Platforms (META), for one, rose 0.09% today as the Facebook parent prepares to disclose its fourth-quarter results after Wednesday's close.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Microsoft (MSFT), which also reports after tomorrow's close, gained 2.2%, while Apple (AAPL), whose fiscal Q1 results will be released late Thursday, jumped 1.1%.
"Investors are looking for tech earnings to drive the next leg of this bull market, with equities reaching fresh records before quarterly reports are even published," says José Torres, senior economist at Interactive Brokers.
Torres adds that this risk-on attitude "is emblematic of participants believing that the prints will deliver beats and raises overall, pointing to an extended runway ahead for AI that could continue bolstering economic performance and asset prices."
But the Dow Jones Industrial Average did not participate in today's tech-fueled upside, with the blue-chip index sinking 0.8% to 49,003.
UnitedHealth plummets on Medicare Advantage payment proposal
UnitedHealth Group (UNH) was by far the worst Dow Jones stock today, diving 19.6% after the health insurer reported a fourth-quarter revenue miss and gave soft full-year revenue guidance.
Also weighing on UNH was the Trump administration's proposal to increase payments to Medicare Advantage insurers by 0.09% on average in 2027, far less than the 4% to 6% rise Wall Street expected.
"The proposal includes unfavorable changes to risk adjustment and diagnostic coding at a time when health insurers are struggling with elevated medical utilization and cost trends that caused significant sub-industry earnings declines in 2025," says CFRA Research analyst Daniel Rich.
The final rate, which helps determine how much insurers charge for monthly premiums and the plans they offer, won't be finalized until early April. Even if there is an improvement over the proposed 0.09% rate, Rich says it's unlikely to match 2026 levels, "providing additional industry headwinds."
Fellow managed care providers Humana (HUM, -21.1%) and CVS Health (CVS, -14.2%) also spiraled.
GM pops on earnings beat, 20% dividend hike
General Motors (GM) was one of the more notable gainers on Tuesday, surging 8.8% after the automaker reported better-than-expected fourth-quarter earnings.
While GM's Q4 revenue of $45.3 billion fell just short of analysts' estimates, the company forecast "strong financial performance" in 2026.
GM also said its board of directors approved a 20% increase to its quarterly dividend and a new $6 billion stock buyback program.
Looking for more timely stock market news to help gauge the health of your portfolio? Sign up for Closing Bell, our free newsletter that's delivered straight to your inbox at the close of each trading day.
Today's outperformance is more of the same for the blue chip stock, which is up 61% on a price basis over the past 12 months vs a roughly 15% gain for the S&P 500.
Fed announcement on deck
In addition to the onslaught of earnings announcements, market participants are also looking ahead to tomorrow's policy announcement from the Federal Reserve.
No rate change is expected at the January Fed meeting following three straight rate cuts to end 2025.
Rather, the real excitement will come from Fed Chair Jerome Powell's press conference, where he will likely field questions on several hot topics, including a Justice Department investigation into his congressional testimony, another potential government shutdown and whether or not he will remain on the Fed board once his term as chair is up later this year.
Related content
- What Will the Fed Do at Its Next Meeting?
- Hot Upcoming IPOs to Watch
- Why Does the Fed Prefer PCE Over CPI?
-
5 Copper ETFs to BuyGold and silver are more precious, but copper will benefit most from growth in the modern economy. Copper ETFs offer efficient exposure to the industrial metal.
-
What to Expect from the February Jobs ReportThe February jobs report will be released Friday morning. Here's what economists expect the data to show.
-
State Farm Giving Out $5 Billion in Refund Checks: Are You Getting One?Drivers in some states will soon see a $100 check from State Farm. Here's what you need to know.
-
The 5 Best Copper ETFs to Buy
Gold and silver are more precious, but copper will benefit most from growth in the modern economy. Copper ETFs offer efficient exposure to the industrial metal.
-
What to Expect from the February Jobs Report
The February jobs report will be released Friday morning. Here's what economists expect the data to show.
-
It's Time to Redefine Retirement for Retirees With $500,000 to $5 Million: Here's HowRetirees with $500,000 to $5 million in assets need a different approach to keep their house and cover ever-increasing health care expenses, including long-term care, without taking too much risk and paying too much in taxes.
-
5 Mistakes to Avoid in Oil and Gas Investing (Plus, 6 Ways to Stay Focused)The nature of energy markets exacerbates unhelpful behaviors. Understanding the psychology of oil and gas investing can help you make smarter decisions.
-
Fee-Only Financial Advice: Do You Really Know What It Means?How does fee-only financial advice differ from fee-based or commission-based advice? Knowing the difference is a critical step toward receiving unbiased help.
-
Dow Cuts 1,277-Point Drop as Trump Tames Energy Threat: Stock Market TodayTuesday's price action was volatile as market participants reacted to the escalating conflict between the U.S. and Iran.
-
Risk-Averse But OK With More Risk Than a CD? These 2 Options Could Work for YouInvestors looking for higher yields might want to consider these hybrid products, which blend the possibility of better returns with less downside risk than traditional investing.
-
How a Simple Clue Unlocked a Workplace Safety Crisis: All We Had to Do Was ListenA lot of people with hearing issues resist wearing hearing aids. "Nicole" had a very good reason not to wear hers, but figuring out why took some sleuthing.
