S&P 500 ends higher as investors await tech earnings

According to preliminary data, the S&P 500 gained 17.07 points, or 0.23%, to end at 7,430.25 points, while the Nasdaq Composite lost 58.88 points, or 0.24%, to 24,873.20. The Dow Jones Industrial Average rose 546.61 points, or 1.05%, to 52,756.69.

The Federal Reserve is due to announce its interest-rate decision on Wednesday. Traders see a 71% probability that the central bank will leave rates unchanged and a 29% chance of a 25-basis-point rate hike, according to CME's FedWatch tool.

Higher rates could further pressure AI companies that are becoming more dependent on debt financing.

Corning tumbled after third-quarter sales forecasts missed estimates, while contract research firm IQVIA Holdings jumped 12% after lifting its annual profit forecast.

Oil prices offered some broader relief, with Brent falling 4.8% to settle at $84.09 a barrel on expectations that tensions in the Middle East and in Ukraine would ease as the White House hosted Israel's Benjamin Netanyahu and Ukraine's Volodymyr Zelenskiy.