/images/ppid_59c68470-image-176955756911724986.webp)
/images/ppid_a911dc6a-image-17695028309449335.webp)
What is the story about?
Benchmark indices on Wall Street were led by their respective sectoral heavyweights in either direction during Tuesday's trading session amidst a persistent sell-off in the US Dollar and ahead of the US Federal Reserve's policy decision later today.
The S&P 500 made a new record high of 6,988 on Tuesday and came within touching distance of the 7,000 mark. The Nasdaq also gained over 200 points led by Tech shares such as Apple and Microsoft, ahead of their respective results over the next two days.
However, the Dow Jones ended with cuts of over 400 points on Tuesday. The index was led lower by insurance companies such as UnitedHealth, which fell 20%, not only due to the recent Medicaid plan proposals revealed by the Trump administration, but also due to its results.
During its quarterly result, UnitedHealth forecast a revenue drop for 2026, a first in the last 30 years, adding to pressure on the stock. The 20% fall led to a $55 billion wipeout in the company's market cap. Along with UnitedHealth, other insurance players like CVS Health, Humana, and others, fell between 11% to as high as 22% on Tuesday.
Weakness in the US Dollar continued as the greenback fell to the lowest level since February 2022. When asked about whether he is concerned over the fall in the currency, US President Donald Trump said that in fact its a good thing and that the currency has not fallen as much. Trump has been a vocal advocate of a weak dollar to bring down the country's trade deficit.
The weakness in the US Dollar continued to support the gravity-defying rally in Gold and Silver prices. Gold is now near the $5,200 an ounce mark in the spot market, while Silver, up nearly 50% already in January, remains above the $110 an ounce mark. Citi believes that the white metal to surge to as high as $150 in the next three months.
Today is an important day for Wall Street, not only for the Federal Reserve announcing its decision, but big tech results begin in earnest with Microsoft, Meta, Tesla reporting results today, along with IBM, GE Vernova and AT&T.
The S&P 500 made a new record high of 6,988 on Tuesday and came within touching distance of the 7,000 mark. The Nasdaq also gained over 200 points led by Tech shares such as Apple and Microsoft, ahead of their respective results over the next two days.
However, the Dow Jones ended with cuts of over 400 points on Tuesday. The index was led lower by insurance companies such as UnitedHealth, which fell 20%, not only due to the recent Medicaid plan proposals revealed by the Trump administration, but also due to its results.
During its quarterly result, UnitedHealth forecast a revenue drop for 2026, a first in the last 30 years, adding to pressure on the stock. The 20% fall led to a $55 billion wipeout in the company's market cap. Along with UnitedHealth, other insurance players like CVS Health, Humana, and others, fell between 11% to as high as 22% on Tuesday.
Weakness in the US Dollar continued as the greenback fell to the lowest level since February 2022. When asked about whether he is concerned over the fall in the currency, US President Donald Trump said that in fact its a good thing and that the currency has not fallen as much. Trump has been a vocal advocate of a weak dollar to bring down the country's trade deficit.
The weakness in the US Dollar continued to support the gravity-defying rally in Gold and Silver prices. Gold is now near the $5,200 an ounce mark in the spot market, while Silver, up nearly 50% already in January, remains above the $110 an ounce mark. Citi believes that the white metal to surge to as high as $150 in the next three months.
Today is an important day for Wall Street, not only for the Federal Reserve announcing its decision, but big tech results begin in earnest with Microsoft, Meta, Tesla reporting results today, along with IBM, GE Vernova and AT&T.
/images/ppid_59c68470-image-17694775929655015.webp)
/images/ppid_59c68470-image-176955753211274224.webp)
/images/ppid_59c68470-image-17694826026334400.webp)
/images/ppid_59c68470-image-17694925259329386.webp)
/images/ppid_59c68470-image-176948003552619647.webp)
/images/ppid_59c68470-image-176948021969780312.webp)