In corporate news, Tesla Inc slipped 0.8% after publishing a compilation of analyst estimates for vehicle deliveries in the current quarter that was more pessimistic than those gathered by Bloomberg. Meta Platforms Inc climbed 1% after agreeing to buy Manus, a Singapore-based artificial intelligence (AI) agent with Chinese roots in a deal said to be worth more than US$2 billion.
Investors seeking cutting-edge ways to play the AI trade are snapping up “pick-and-shovel” stocks. Data storage companies dominated the S&P 500 this year, with Sandisk Corp the best performer after an almost 580% gain. The stock was little changed in Tuesday trading.
Mining stocks climbed as silver and gold recovered somewhat after plunging on Monday, with Newmont Corp. rising 0.65%. Molina Healthcare Inc rallied 3.7% after famed investor Michael Burry reiterated his bullish view on the stock. Meanwhile, Boeing Co advanced 1.6% after winning an up-to US$8.58 billion US contract for Israel’s F-15 programme.
See also: US consumer sentiment rises unexpectedly to a six-month high
October housing data from the Federal Housing Finance Agency and from S&P Cotality Case-Shiller both showed slightly higher-than-estimated price increases, while the Federal Reserve is due to release minutes from its latest meeting later in the afternoon.
“As we look to 2026, the global economy continues to show impressive resilience,” Citigroup Inc’s global chief economist Nathan Sheets wrote in a note, adding that “we expect global growth to continue on a similar track through the next two years.” He anticipates “pressures from the tariffs will take a further bite out of growth next year, but the overall effects look manageable”.
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