FX.co ★ US Stocks Inch Higher

On Tuesday, US stocks generally advanced as investors evaluated a series of earnings reports in anticipation of significant economic events slated for later in the week. The S&P 500 inched slightly higher, while the Nasdaq 100 increased by more than 0.5%, both setting new record highs. The Dow Jones Industrial Average, meanwhile, remained relatively flat. Union Pacific saw a 2% rise following its agreement to acquire Norfolk Southern in a historic rail industry deal in the United States. Additionally, most technology giants experienced gains ahead of the eagerly awaited earnings reports from major market leaders such as Microsoft, Meta, Amazon, and Apple, expected later this week. Conversely, companies like United Health (-6%), P&G (-1%), Merck & Co (-8.5%), UPS (-7%), and Boeing (-1.5%) recorded notable declines after releasing their earnings results prior to the market opening. The Job Openings and Labor Turnover Survey (JOLTS) will commence an array of new labor market updates this week, alongside a forecasted sharp rebound in the US GDP. The Federal Reserve is anticipated to maintain interest rates at current levels tomorrow, as the vigorous economic conditions are counterbalanced by the pro-inflationary risks associated with potential increases in US tariffs.