FX.co ★ S&P 500 Set for Fresh Highs

The S&P 500 experienced a gain of approximately 0.5% on Tuesday afternoon, reaching new record highs. Similarly, the Nasdaq advanced by about 0.5%, while the Dow Jones Industrial Average increased by roughly 180 points. This upward trend was driven largely by technology and energy stocks. Notable among the gains were Nvidia, with a 2.5% increase; Microsoft and Apple, which each rose by 0.3%; Amazon and Alphabet, both climbing 1.3%; Meta, advancing 0.3%; and Broadcom, up 2.2%. Conversely, the real estate and consumer staples sectors lagged behind. Eli Lilly's shares showed volatility as they alternated between gains and losses following the US Food and Drug Administration's approval of Novo Nordisk's new weight-loss medication. Earlier in the day, the market mood was more reserved, with investors processing robust economic data that reinforced the likelihood of the Federal Reserve maintaining steady interest rates in January. However, this also sparked discussion about whether the strong economic performance might postpone anticipated rate cuts next year. Notably, a delayed report indicated that the US economy grew at an annualized rate of 4.3% in the third quarter, marking its most rapid expansion in two years.