US Stock Market Today: S&P 500, Dow Jones, Nasdaq rise ahead of Federal Reserve’s rate decision

Wall Street edged higher on Tuesday ahead of the Federal Reserve's last interest rate decision of the year.

While the US central bank is widely expected to reduce interest rates, analysts do not expect multiple rate cuts in early 2026.

At 11:50 a.m. ET, the Dow Jones Industrial Average rose 151.74 points, or 0.32%, to 47,891.06, the S&P 500 gained 15.91 points, or 0.23%, to 6,862.42 and the Nasdaq Composite gained 37.60 points, or 0.16%, to 23,583.50.

As of 10:15 A.M. Eastern Time, the S&P 500 rose 0.1%, the Dow Jones Industrial Average was up 0.3%, and the Nasdaq Composite was 0.1% lower.

At the opening bell, the Dow Jones Industrial Average fell 14.8 points, or 0.03%, to 47,724.52. The S&P 500 fell 5.9 points, or 0.09%, to 6,840.61​, while the Nasdaq Composite dropped 41.3 points, or 0.18%, to 23,504.614.

In the bond market, the yield on the 10-year Treasury fell at 4.17%. The yield on the 2-year Treasury rose to 3.60% from 3.57%.

Key Stock Movers

CVS Health Corp. shares climbed 3.16% after the firm raised most of its projections for the remainder of 2025 and issued strong a forecast for 2026.

Home Depot stock rose 1.74% after the company reaffirmed its guidance for 2025 and issued a tepid preliminary outlook for 2026.

Nvidia declined 0.76% as markets digested report that US President Donald Trump said he would allow the chipmaker to sell an advanced type of computer chip used in the development of artificial intelligence to “approved customers” in China.

Exxon Mobil shares advanced 3.4% after the company raised its forecast for profit over the next five years.

PepsiCo shares fell 0.72% after the company announced a push to reduce costs and lower food prices under a deal with activist shareholders at Elliot Investment Management.

Ares Management stock soared 6.7% after S&P Dow Jones Indices said the investment company will join the S&P 500 index.

Campbell stock slid 4% after the packaged-food maker said it selectively raised prices to counter higher costs.

Bullion Market

Gold prices surged on Tuesday as traders remained optimistic ahead of the Federal Reserve's rate decision on Wednesday.

At 0922 A.M. ET (14:22 GMT), spot gold rose 0.1% to $4,193.14 per ounce. US gold futures for February delivery added 0.1% to $4,222.20 per ounce.

In other metals, silver climbed 1.1% to $58.78 per ounce, platinum gained 0.1% to $1,646.03/oz, and palladium rose 0.6% to $1,474.28/oz.