US stocks end higher after Trump attacks Fed; Nvidia climbs

STORY: U.S. stocks ended slightly higher on Tuesday, with the Dow adding three-tenths of a percent and the S&P 500 and Nasdaq each gaining about four-tenths of a percent.

President Trump late on Monday said he was removing Fed Governor Lisa Cook over alleged improprieties in obtaining mortgage loans, adding to concerns about the central bank's independence from politics.

But Nancy Tengler, CEO and chief investment officer at Laffer Tengler Investments, said investors are mostly focusing on Wednesday's earnings results from AI powerhouse Nvidia.

"Really at the end of the day, stocks trade off of earnings. Nvidia reports tomorrow, I think that's going to be pivotal and we'll all be hanging over the edge of our terminals to see what happens - but that's really what matters to stocks in the long run. In the short run, the hedge funds and the algorithms drive volatility, and today there's really no incentive to trade against tomorrow's earnings report. So fingers crossed for the entire stock market that Nvidia does what everyone expects." Related Videos

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Nvidia rose about 1% ahead of its quarterly report, which will show how the world's most valuable company is faring in the crossfire of Washington and Beijing's ongoing trade war.

Other movers included EchoStar, which surged 70% to a record high after telecom giant AT&T said it has agreed to buy certain wireless spectrum licenses from the satellite communications firm for about $23 billion.

And shares of Eli Lilly jumped almost 6% after the drugmaker said its experimental pill cuts body weight by 10.5% in diabetes patients.

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