Wall Street ticked to a record as stocks zigzagged underneath the market’s surface following mixed profit reports from UnitedHealth, General Motors and other big companies. The S&P 500 rose 0.4% Tuesday, even though more stocks fell within the index than rose. It squeaked past its prior all-time .
— Wall Street ticked to a record on Tuesday, as stocks zigzagged following mixed profit reports from UnitedHealth, General Motors and other big companies.
The S&P 500 rose 0.4% and edged past its prior all-time high set a couple weeks ago. The Dow Jones Industrial Average dropped 408 points, or 0.8%, and the Nasdaq composite climbed 0.9% as the stock market cleaved between winners and losers.
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The swings were even bigger in foreign-currency markets, where the U.S. dollar’s value slid against its peers again. Shortly after U.S. stocks finished Tuesday’s trading, the dollar was down more than 1% against the euro, the Japanese yen and the Australian dollar, among others. An index measuring the U.S. dollar’s strength against several of its competitors dropped to its lowest point since 2022.
The slide continues a sharp drop for the U.S. dollar since President Donald Trump threatened tariffs against several European countries that he said opposed his taking control of Greenland. Such threats, along with worries about risks like the U.S. government’s heavy debt, have periodically pushed global investors to step back from U.S. markets, a move that’s come to be called “Sell America.”
On Wall Street, Corning helped lead the market higher and climbed 15.6% after announcing a deal with Meta Platforms worth up to $6 billion. Corning will supply optical fiber and cable to help build out data centers for Meta, enough that Corning is expanding its optical-fiber manufacturing facility in Hickory, North Carolina.
