Stocks rise as Nasdaq gains 1.2% and small caps jump, while Boeing drops 10.7% before the Fed
The S&P 500 added 0.6% to 7,722.60 and the Dow barely moved, as UPS rose 5.8% and the 10-year yield eased to 4.99% a day before the Federal Reserve decides.
Stocks rose for a second straight session on Tuesday, led by technology and small companies, even as Boeing's guidance disappointment knocked more than 10% off its shares. The S&P 500 gained 45.83 points, or 0.6%, to 7,722.60. The Nasdaq Composite rose 308.43 points, or 1.2%, to 26,477.81, and the Russell 2000 added 32.45 points, or 1.2%, to 2,818.87. The Dow Jones Industrial Average finished essentially flat, up 15.99 points to 52,377.57.
The closing numbers
| Measure | Close | Change |
|---|---|---|
| S&P 500 | 7,722.60 | +0.60% |
| Nasdaq Composite | 26,477.81 | +1.18% |
| Dow Jones Industrial Average | 52,377.57 | +0.03% |
| Russell 2000 | 2,818.87 | +1.16% |
| VIX | 17.52 | -4.73% |
| WTI crude (front month) | $100.21 | -1.52% |
| Gold (front month) | $4,073.10 | +0.86% |
Closing prices from Yahoo Finance, read at 4:36 PM ET; percentage changes are our arithmetic against Monday's close. Oil and gold are futures prices and can differ slightly from other feeds.
The Nasdaq Composite remains about 4.1% below its Oct. 6 peak in our chart data, so Tuesday's gain recovers only part of the October slide.
Two stocks, two directions
Boeing fell 10.7% to $168.18, from $188.31 on Monday, after the company said the 737 Max production ramp would slip to late 2027. We covered the details in our Boeing story. UPS went the other way, rising 5.8% to $106.09 after raising its 2026 sales forecast to $92.6 billion; see our UPS story for what its release says about fewer, pricier parcels.
In tech, the sector ETF XLK rose 1.7% to $189.49. Nvidia gained 0.9% to $217.94, while Microsoft slipped 0.2% to $531.33. The energy sector ETF XLE fell 2.1% to $68.21 as crude eased.
Oil and gold
WTI front-month futures settled at $100.21 on Yahoo Finance's data, down from $101.76 on Monday. Gold rose to $4,073.10 an ounce. For a trucking or delivery business, a barrel that is still near $100 matters more than a one-day dip of about $1.55.
Yields and data before the Fed
The Treasury's daily curve put the 10-year yield at 4.99% on Tuesday, from 5.00% on Monday, and the 2-year at 4.70%, from 4.68%, per the Treasury's data. The 30-year was 5.30%, down from 5.31%.
The day's economic reports were mixed. Consumer confidence jumped 7.5 points to 91.7, but households' spending plans fell. September durable goods orders rose 1.8%, but aircraft did most of the work and core equipment orders gained only 0.5%.
What to watch
The Federal Reserve announces its decision on Wednesday; the economic calendar on our markets board shows a forecast of 3.875% for the funds rate target, in line with the current effective rate of 3.88%. Thursday brings weekly jobless claims, and the October jobs report arrives Nov. 6. The Fed's own minutes from the last meeting are the best guide to how officials are thinking.
Sources: Yahoo Finance; U.S. Treasury; Chronicle reporting. This is market information, not investment advice.
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