The S&P 500 closed 0.4% higher on Tuesday, bolstered by gains in Nvidia, as investors balanced optimism over corporate earnings with concerns about President Trump's unprecedented removal of Federal Reserve Governor Lisa Cook.
The Dow Jones added 135 points, while the Nasdaq rose 0.4%. Nvidia shares jumped 1.1% ahead of its quarterly report on Wednesday, amid high expectations for the chipmaker in the context of ongoing US-China trade tensions, and Eli Lilly surged 5.8% after announcing its experimental diabetes pill significantly reduces body weight.
Although several sectors, including energy and consumer staples, declined, industrials led the gainers, helping lift broader market sentiment. Trump's move to oust Cook over alleged mortgage improprieties intensified worries about the Fed's independence, prompting scrutiny from investors and analysts alike. Cook has stated she plans to legally challenge her removal, highlighting the potential long-term risks of a politicized central bank.
Source: Trading Economi
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