Happy Tuesday. Yesterday was S&P 500's, Nasdaq's and Dow's 28th, 19th, and 7th record close of the year. For Gold, it was the 36th. So much for the Fed cut being a "sell the news" event.
There could be even more records coming today, too. The Russell 2000 (+0.88%) just set a new intraday high, surpassing its Sept. 19, 2025 record. If it stays at this level, it'll score its second record close of the year. The Dow (+0.33%) has also set a new intraday high today and is shaping up well. So are Gold futures, which has been on a fantastic run this week.
Tuesday Reading
The Nasdaq (-0.28%) and S&P 500 (-0.09%), on the other hand, are taking a bit of a break this morning. Which, candidly, is to be understood given the recent rally that we've seen from the indexes, even in the face of limited breadth. In other words: oops, all megacaps. Whether they can burst back above where they started today and come along with remains to be seen.
As for things that could move stocks today, commentary from Fed Chair Jerome Powell is coming in short order, who is anticipated to have his first public appearance since the Federal Open Market Committee (FOMC) press conference. Powell's commentary comes after a number of Fed Governors have had similar speaking engagement this week, echoing calls about the difficulty of cutting rates further.
TurboTax Via TheStreet
-- Noah Weidner, markets reporter
