On Tuesday, Wall Street closed modestly higher, with the S&P 500 and Nasdaq reaching all-time closing highs. Investors remained cautiously optimistic ahead of Nvidia Corp's quarterly results and the release of the Federal Reserve's latest meeting minutes, both expected on Wednesday.

Market Highlights:

• Anticipation of Nvidia's Earnings: Nvidia's (NASDAQ:NVDA) upcoming earnings report has generated significant interest, particularly due to the company's strong performance this year and its pivotal role in the AI industry. "A lot of people are just waiting for Nvidia to report," noted Robert Pavlik, senior portfolio manager at Dakota Wealth.
• Federal Reserve Insights: Comments from Fed officials suggested that current economic data supports the Fed's restrictive policy. Fed Governor Christopher Waller indicated that recent data showed the policy was working, while Atlanta Fed Chair Raphael Bostic emphasized caution before any rate cuts to avoid inflation volatility.
• Holiday Doldrums: Trading volumes were lighter ahead of the holiday weekend, contributing to a more subdued market environment. Despite this, the S&P 500 and Nasdaq managed to secure record closing highs.

Market Performance:

• Dow Jones: The Dow Jones Industrial Average rose 66.22 points, or 0.17%, to 39,872.99.
• S&P 500: The S&P 500 gained 13.28 points, or 0.25%, to 5,321.41.
• Nasdaq: The Nasdaq Composite added 37.75 points, or 0.22%, to 16,832.62.

Investors are keenly awaiting Nvidia's earnings and the Fed's meeting minutes for further cues on market direction and economic policy.

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