S&P 500 Hits New Records, GM Stock Jumps 8% On Earnings: What's Moving Markets Tuesday?

Wall Street regained momentum on Tuesday as upbeat corporate earnings lifted risk appetite, pushing the S&P 500 to fresh all-time highs and driving the Nasdaq 100 closer to its prior October record.

• SPY ETF hits fresh record highs. Check live chart here.

The S&P 500 briefly touched 6,990 shortly after midday trading in New York, marking a new record. Technology and utilities led gains, offsetting sharp losses in health care after a proposed Medicare Advantage payment update from the Trump administration sent insurers tumbling.

The Nasdaq 100, up for a fifth consecutive session, rallied 1.1% to 26,000, putting its 26,182 record set in late October back into view.

The Dow Jones Industrial Average lagged, sliding 0.8%, dragged down by a nearly 20% plunge in UnitedHealth Group Inc. (NYSE:UNH) — the index's fifth-largest component.

Health insurers broadly sold off after the Centers for Medicare & Medicaid Services (CMS) proposed a roughly 0.1% increase in Medicare Advantage payments for 2027, far below the 4%–6% growth insurers and analysts had expected.

The following stocks posted double-digit losses, reflecting concerns over future revenue and margin pressure in one of the sector's most profitable businesses:

• UnitedHealth Group Inc.
• Humana Inc. (NYSE:HUM)
• Centene Corp. (NYSE:CNC)
• CVS Health Corp. (NYSE:CVS) and
• Elevance Health Inc. (NYSE:ELV)

On The Earnings Front

General Motors Co. (NYSE:GM) surged more than 8% after the Detroit automaker beat forecasts and issued upbeat guidance for 2026.

Other earnings-driven movers included HCA Healthcare Inc (NYSE:HCA), which jumped 11%; United Parcel Service Inc (NYSE:UPS), up nearly 4%; Boeing Co (NYSE:BA), which gained almost 2%; Northrop Grumman Corp (NYSE:NOC), up more than 1.5%; NextEra Energy Inc (NYSE:NEE), which added just over 2%; and RTX Corp (NYSE:RTX), up nearly 2%.

The top gainer in the Russell 1000 was Corning Inc. (NYSE:GLW), which soared 16% after announcing a deal with Meta Platforms Inc. (NASDAQ:META) to supply fiber, cable and connectivity products.

In commodities, gold rose 1.4% to $5,080 an ounce, on track for a seventh straight session of gains, while silver climbed 3.3% to $107. Natural gas fell 6% after last week's weather-driven surge, while WTI crude advanced 1.9% to $62 a barrel.

In crypto markets, Bitcoin (CRYPTO: BTC) slipped 0.6% to $87,700.

Tuesday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Invesco QQQ Trust (NASDAQ:QQQ) climbed nearly 1% to $631.32.
• The Vanguard S&P 500 ETF (NYSE:VOO) added about 0.5% to $640.11.
• The iShares Russell 2000 ETF (NYSE:IWM) slipped 0.1% to $263.64.
• The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) fell 0.9% to $489.70.
• At the sector level, the Technology Select Sector SPDR Fund (NYSE:XLK) rose 1.6%, while the Health Care Select Sector SPDR Fund (NYSE:XLV) declined 1.3%.

Russell 1000’s Top 5 Gainers On Tuesday

Russell 1000’s Top 5 Losers On Tuesday

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