Stock market today: Live updates

S&P 500 futures rose Tuesday after a record-setting session for the benchmark index, while traders awaited the beginning of the latest Federal Reserve meeting.

Futures tied to the S&P 500 traded 0.2% higher, while Nasdaq-100 futures advanced 0.3%. Dow Jones Industrial Average futures slipped 19 points, or 0.04%.

The S&P 500 closed above 6,600 for the first time on Monday, while the Nasdaq Composite also raced to an all-time high.

Investors appeared pleased with President Donald Trump’s positive description of trade talks with China. Several big technology stocks provided upside for the market, led by jumps of more than 4% and 3% in Alphabet and Tesla, respectively.

“Thus far, generally everything’s gone right,” said Michael Kantrowitz, chief investment strategist at Piper Sandler, on CNBC’s “Power Lunch.” “Many fears have gone away, and … for the first time in about three years, you’re seeing a broad improvement in earnings expectations.”

Investors are also gearing up for the Fed’s interest rate meeting, set to begin Tuesday, with a decision expected Wednesday. Fed funds futures pricing in a 100% likelihood of at least a quarter-point rate cut, per CME’s FedWatch tool. Yet traders will still closely monitor Fed Chair Jerome Powell’s subsequent press conference for any clues on the future of monetary policy.

The meeting also comes after the Senate confirmed President Donald Trump’s pick to join the central bank, Stephen Miran.

Investors will also monitor economic data on retail sales, import prices, the housing market and business inventories due Tuesday. There are no major earnings reports expected on Tuesday.