The Dow and S&P 500 closed at record highs on Tuesday after the Trump tariff announcement kicked things off for the day.
News of the tariffs initially boosted the markets but by day's end, traders shook things off and saw the market undergo new heights. The markets closed with record highs for the S&P 500 and the Dow again. At 4:05 p.m. ET, the $S&P 500 Index (.SPX.US)$ closed up 0.57% to 6,021. The $Dow Jones Industrial Average (.DJI.US)$ closed up 123 points (0.05%) to 44,860 and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.63%.
On Tuesday, Israel and Lebanon’s Hezbollah agreed to a permanent ceasefire in cross-border hostilities. In remarks, President Joe Biden said, “Effective at 4:00 a.m. tomorrow, local time, the fighting across the Lebanese-Israeli border will end.”
Traders are also reading through the Fed's Nov. 6-7 meeting notes. The meeting summary showed that Fed officials discussed either potentially slowing down interest rate cuts or pausing them if progress on lowering inflation stalled when they met earlier in the month.
Bitcoin continued moving lower, trading around $91,000 on Tuesday.
After the bell, Dell, CrowdStrike, Nordstrom, and Workday will share their earnings. On Wednesday, the PCE Index comes out.
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