US Fed Meeting Highlights: Will the US central bank cut benchmark interest rates?
Jul 28, 2026 11:28 PM IST
US Fed Meeting LIVE Updates: S&P 500 rises as oil slides, broad gains overshadow chips rout
The S&P 500 Index climbed on Tuesday as oil prices continued to slide. Three times as many stocks gained versus those that declined, while an equal-weight version of the index hit an all-time high even as chipmakers sold off.
The benchmark index was up 0.3% at 1:30 p.m. in New York. The Nasdaq 100 Index was down 0.7%, paring its slump toward correction territory while the Philadelphia Semiconductor Index also trimmed its decline to 4.1%.
Chip stocks Micron Technology Inc. and Sandisk Corp. were among the biggest losers on the S&P 500. Meanwhile, shares of SpaceX also reversed an earlier dive, adding 1%.
Oil prices fell, with West Texas Intermediate slipping around 4% to about $79 a barrel. President Donald Trump held “positive and productive” meetings with Israeli Prime Minister Benjamin Netanyahu and Ukrainian President Volodymyr Zelenskyy on Tuesday, according to the White House.