Tech Stocks Propel Nasdaq to Record High Amid Fed Reassurances

The Nasdaq and S&P 500 saw gains on Tuesday, boosted by tech stocks and positive comments from Federal Reserve policymakers. While the job market remains strong and inflation targets are on track, the Dow Jones dipped slightly. Amazon unveiled new AI platforms, raising its shares by 1.1%.

The Nasdaq and S&P 500 experienced slight gains on Tuesday, with tech-related shares driving the uptick. Investors were calmed by remarks from Federal Reserve policymakers suggesting that inflation is on track to hit the 2% target.

Despite not indicating support for another interest rate cut, Fed Governor Christopher Waller expressed a current inclination towards such a move. Meanwhile, the market's recent positive performance signals the need for a pause before the next move, according to Quincy Krosby of LPL Financial.

Market-watchers are focused on upcoming employment data. Amazon's shares increased after it launched new AI platforms. The Dow Jones fell slightly, while South Korean stocks declined following martial law declarations. Tesla's China sales dropped, impacting its stock by 2.2%.

(With inputs from agencies.)