S&P 500 Climbs as Nvidia and Eli Lilly Spark Investor Optimism

The S&P 500 closed the trading day higher on Tuesday, bolstered by gains in Nvidia and Eli Lilly, providing a spark of optimism among investors.

U.S. President Donald Trump intensified apprehensions surrounding the Federal Reserve's independence by dismissing a central bank governor, a move that initially shook markets but was eclipsed by consistent forecasts for a forthcoming interest rate cut in September.

Amidst trade uncertainties and political tension, Nvidia's forthcoming report is expected to influence market sentiments on AI-related stocks, while Eli Lilly's positive clinical trial results contributed to a buoyant atmosphere in the stock market despite persistent inflation pressures.

(With inputs from agencies.)