LIVE MARKETS-S&P 500 scores record close, sits just shy of 7,000 milestone

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S&P 500 SCORES RECORD CLOSE, SITS JUST SHY OF 7,000 MILESTONE

The S&P 500 gained for a fifth straight session and scored its fourth record closing high so far this year on Tuesday, as investors sifted through a slew of earnings, while a Medicare Advantage payment proposal from the Trump administration sent health insurers sharply lower.

The benchmark index hit an intraday record high of 6,988.82 before finishing at 6,978.60. It ended just 0.3% from the 7,000 psychological milestone.

The Nasdaq Composite .IXIC also rose for a fifth day in a row, ending up 0.9%. The tech-laden index is now down just 0.59% from its October 29, 2025, record close.

However, thanks to a near 20% collapse in shares of UnitedHealth UNH.N, after the company said its revenue this year would decline for the first time in decades, which follows Monday's lower-than-expected 2027 Medicare reimbursement proposal from the government, the Dow .DJI tumbled.

The blue-chip average lost 0.83% to end down 1.18% from its January 12 record close, and 2% below the 50,000 psychological milestone. Of note, UNH was responsible for 421 points of downside pressure on the Dow, which finished off 409 points on the day.

The iShares U.S. Healthcare Providers ETF IHF.P slid nearly 10% for its biggest daily percentage fall since March 16, 2020, in the midst of the pandemic panic.

Among other indexes scoring record closes were S&P 500 Communication Services .SPLRCL, Energy .SPNY, Materials .SPLRCM, Staples .SPLRCS, the NYSE Composite .NYA, the PHLX Semiconductor Index .SOX, and the PHLX Gold/Silver Index .XAU.

Investors will now turn their attention to the results of the latest FOMC meeting on Wednesday. According to the CME's FedWatch Tool, there is a 97% chance for no change in rates, and a 3% chance of a 25 basis point rate cut.

Quarterly reports from Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O are due after Wednesday's closing bell.

Here is a snapshot of where markets stood just shortly after 4 p.m. ET.

(Terence Gabriel)

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