US Markets Diverge: Dow Hits Record High as Tech Stocks Retreat

US equity markets displayed significant divergence on Tuesday, with the Dow Jones Industrial Average climbing to a fresh record high while the Nasdaq and S&P 500 retreated. Investors are currently in a "wait-and-see" mode, digesting massive recent rallies as they prepare for the upcoming Federal Reserve policy announcement.

Mixed Performance Across Major Indices

The market session was characterized by a rotation of capital from high-flying technology stocks into more economically sensitive sectors. The Dow Jones Industrial Average rose by 345.54 points, or 0.67%, to close at 52,016.57, marking its second consecutive record close.

In contrast, the technology-heavy indices faced selling pressure. The S&P 500 shed 41.85 points, or 0.55%, to end at 7,512.44. The Nasdaq Composite saw a sharper decline, losing 301.13 points, or 1.15%, to settle at 26,382.81. Market analysts noted that after the S&P 500 rallied 1.65% and the Nasdaq surged over 3% on Monday, a period of consolidation was expected.

Geopolitical Shifts and the Impact on Oil

A major driver of market movement was the news surrounding a U.S.-Iran interim deal. The agreement, which aims to extend a tenuous ceasefire for an additional 60 days and reopen the Strait of Hormuz, has significantly cooled energy markets. Consequently, U.S. oil futures tumbled by 5.8%.

The easing of geopolitical tensions in the Middle East has provided relief regarding inflation concerns. Previously, the conflict had driven oil prices higher, fueling fears of "sticky" inflation that could complicate the Federal Reserve's interest rate trajectory. President Trump stated the agreement would prevent Tehran from acquiring nuclear weapons, while officials noted it would allow Iran to sell oil upon signing.

Anticipation of the Federal Reserve Decision

The central theme for Wall Street remains the Federal Reserve's policy update scheduled for Wednesday afternoon. While investors widely expect the Fed to maintain interest rates in the current 3.50% to 3.75% range, the focus is squarely on the commentary from new Fed Chairman Kevin Warsh.

ตลาดกำลังรอสัญญาณชี้แนะเกี่ยวกับอัตราเงินเฟ้อ อัตราการว่างงาน และแนวโน้มเศรษฐกิจในภาพรวม แม้ว่าความเห็นส่วนใหญ่จะบ่งชี้ว่าอัตราดอกเบี้ยจะทรงตัวไปตลอดทั้งปี แต่เครื่องมือ FedWatch ของ CME Group ระบุว่าขณะนี้เทรดเดอร์กำลังคาดการณ์โอกาส 42% ที่จะมีการปรับขึ้นอัตราดอกเบี้ย 25 basis points ในเดือนธันวาคม

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