US stocks rallied on Tuesday, led by technology. The Nasdaq rose 1.2% and the S&P 500 gained 0.6%, while the Dow was flat. The tech sector climbed 1.5% and energy fell 2%, with oil down about 1.7% and WTI below $100.
The SOX chip index jumped 3.6%, and Dell and Super Micro Computer each gained 7.5%. Boeing fell 11%, and Robinhood dropped 6% after hours. Bitcoin moved back above $80,000.
All eyes are now on Wednesday: Microsoft and Alphabet report after the close, and Amazon follows Thursday. The three hyperscalers hold nearly $1.7 trillion in combined backlog and plan to spend up to $600 billion this year. Futures put a 90% probability on the Federal Reserve holding rates at its meeting, according to Reuters columnist Jamie McGeever.