S&P 500 Climbs as Boeing and Coca-Cola Lift Wall Street Amidst Volatile Tech Stocks

The S&P 500 saw gains led by Boeing and Coca-Cola, countering losses in chip stocks before Apple's quarterly report. Concerns over tech giants' spending on AI data centers add to market volatility. Key indices had mixed results while investors anticipate the Federal Reserve's interest-rate decision.

The S&P 500 rose on Tuesday, aided by significant gains in Boeing and Coca-Cola, countering poor performance in chip stocks ahead of Apple's quarterly earnings report. Tech giants like Microsoft and Amazon also faced pressure amidst market worries about overspending on AI data centers.

Apple's stock climbed to record highs, briefly reaching a $5 trillion market value. Meanwhile, PHLX index, representing chipmakers, experienced a 4.5% drop. Despite declines, the tech-heavy S&P 500 healthcare and consumer staples indices showed solid growth.

With attention turning to the Federal Reserve's imminent interest-rate decision, market participants are divided on whether rates will remain unchanged or see a minor hike. Analysts predict substantial second-quarter earnings growth for the S&P 500, underlining AI stocks' substantial role in this uptick.