S&P 500 Nabs Record Close; Dow Sheds 408 Points

The S&P 500 settled at a record high on Tuesday as Big Tech powered gains, with the Nasdaq also securing a win as the Dow slid 408 points amid UnitedHealth (UNH) stock's outsized losses. Apple (APPL) and Microsoft (MSFT) led the upside as traders eyed the earnings confessional and looked ahead to tomorrow's interest rate decision. Though the central bank likely maintain its key rate between 3.5% and 3.75%, Wall Street is hopeful that the Federal Reserve will provide additional insight into monetary policy.

Continue reading for more on today's market, including:

• GM stock extends rally on fourth-quarter results.
• Piper Sandler cut UnitedHealth stock's price target.
• Plus, Corning's $6 billion deal; behind AAL's post-earnings dip; and Pinterest layoffs.

5 Things to Know Today

1. Israel is seeking a fresh 10-year security deal for extended U.S. military support. (Reuters)
2. House Democrats threatened to begin impeachment proceedings against Department of Homeland Security Secretary Kristi Noem. (CNBC)
3. GLW stock notched its best daily pop since 2004.
4. Strong 2026 revenue growth may be in store for this airline.
5. Pinterest will lay off 15% of its workforce to make space for AI.

Oil Pops as Winter Storm Hurts Crude Output

Oil prices bounced back from yesterday's dip, as producers contended with Winter Storm Fern's aftermath, which led to a loss of roughly 15% of national crude production. March-dated West Texas Intermediate (WTI) crude gained $1.53, or 2.5%, to $62.16 per barrel.

Gold prices moved higher after tapping record highs yesterday, as geopolitical tensions continued to drive safe-haven demand. February-dated gold futures rose 0.1% to settle at $5,085.50 per ounce.