NEW YORK — Wall Street’s major stock indexes advanced on Tuesday, lifted by renewed enthusiasm for artificial intelligence-linked equities as investors prepared for a busy week of heavyweight corporate earnings and an upcoming Federal Reserve policy decision.
By late morning, the Dow Jones Industrial Average rose 60.34 points, or 0.12%, to 52,423.99. The S&P 500 gained 51.97 points, or 0.68%, to 7,728.74, while the Nasdaq Composite advanced 325.50 points, or 1.25%, to 26,495.17. Technology led the day's gains among the S&P 500's 11 major sectors, while energy lagged as Brent crude slipped for a second consecutive session.
Market sentiment found support in easing oil prices and a resilient AI trade following Anthropic's recent IPO filing. Semiconductor stocks rose 3.2%, marking a third consecutive day of recovery. Broadcom added nearly 4% after securing financing from Wall Street banks and Blackstone for Anthropic's AI chips. Additional AI-adjacent standouts included neocloud firms CoreWeave and Nebius, server makers Dell and Super Micro, and Western Digital. Meanwhile, newly released data showed that September orders for key U.S.-manufactured capital goods increased, underscoring continued capital expenditure in the sector.
However, broader market advances faced some limitations. Boeing shares dropped 9.5% after CEO Kelly Ortberg announced that the planemaker would delay reaching its 737 production target until early 2027, dragging down the Dow. Meta shares slipped 0.8% after expanding its largest-ever equity fundraising effort to $97.5 billion to fuel AI infrastructure growth.
Investors are now looking toward upcoming quarterly results from tech giants like Alphabet, Microsoft, and Amazon, which are expected to shed light on whether heavy artificial intelligence spending is translating into tangible revenue growth. Markets are also closely monitoring the Federal Reserve, which is widely anticipated to keep interest rates steady on Wednesday following a rate increase last month.
