Markets closed modestly higher on Tuesday as investors leaned into growing expectations that the Federal Reserve is done raising rates for this cycle. A lighter-than-expected reading on June's consumer confidence survey gave bulls enough ammunition to push the S&P 500 and Nasdaq to their fourth gain in five sessions, with tech leading the charge.
Nvidia was the standout performer of the session, rallying over 3% after reports emerged that a major sovereign wealth fund had quietly built a sizable position in the chipmaker. The move underscored continued conviction in AI infrastructure spending — a theme that has anchored the broader market's resilience throughout 2026.
On the losing end, CVS Health tumbled nearly 5% after management cut full-year profit guidance during a mid-quarter update. Rising medical costs in the company's Aetna insurance division have become a persistent headwind, and investors showed little patience, sending shares to a multi-month low. Healthcare broadly lagged as a result.
Crude oil held steady near $78, while gold slipped slightly as the dollar firmed. The VIX remained subdued at 17.3, signaling that despite pockets of volatility, the market's overall anxiety level is contained. Breadth was reasonably healthy, with advancers outpacing decliners by roughly 3-to-2 on the NYSE.