02:12 PM EST, 01/27/2026 (MT Newswires) -- US benchmark equity indexes were mixed intraday as the technology sector jumped and health care tumbled, while the Federal Reserve's two-day monetary policy meeting got underway.

The Nasdaq Composite was up 1% at 23,832.2 after midday Tuesday, while the S&P 500 rose 0.5% to 6,981. The Dow Jones Industrial Average fell 1% to 48,931.2. Among sectors, tech paced the gainers, while health care saw the steepest decline.

Microsoft ( MSFT ) shares were up 2.3%, the top gainer on the Dow, followed by a 2% rise in Amazon.com ( AMZN ) . Fellow mega-cap tech stocks Apple ( AAPL ) and Nvidia ( NVDA ) were among the best performers on the index.

Microsoft ( MSFT ), Meta Platforms ( META ) and Tesla (TSLA) are scheduled to report their latest quarterly financial results Wednesday, while Apple's ( AAPL ) results are due Thursday.

In company news, the Centers for Medicare & Medicaid Services on Monday proposed an average year over year rate increase of 0.09% in Medicare Advantage payments to plans in 2027. The Wall Street Journal reported that the proposal was "well short" of market expectations.

Humana (HUM) shares sank 20% intraday Tuesday, the worst S&P 500 performer, followed by UnitedHealth Group ( UNH ) and CVS Health ( CVS ) , down 19% and 15%, respectively.

UnitedHealth ( UNH ) posted mixed fourth-quarter financial results, while the health insurance giant provided a downbeat full-year outlook for its top-line.

Corning (GLW) signed up to a $6 billion deal to supply Meta with optical fiber, cable, and connectivity services and products in support of data center buildouts for the tech giant.

Corning shares jumped 16%, the best performer on the S&P 500, while Meta fell 0.5%.

General Motors ( GM ) was among the top gainers on the S&P 500, up 9.1%. The automaker logged stronger-than-expected fourth-quarter earnings and projected an annual increase in 2026 bottom-line.

Texas Instruments ( TXN ) and Packaging Corp. of America ( PKG ) are scheduled to report results after the closing bell Tuesday.

US Treasury yields were mixed intraday, with the 10-year rate up 1.8 basis points at 4.23% and the two-year rate dropping 2.6 basis points to 3.57%.

Markets widely expect the Fed to keep its benchmark lending rate unchanged at 3.50% to 3.75% Wednesday, following three straight 25-basis-point cuts delivered last year, according to the CME FedWatch tool.

"At this point, with no further compelling evidence of additional cooling in the jobs market, the (Federal Open Market Committee) is likely to cease further rate cuts in the new year, for at least some time," Stifel said in a Tuesday note.

West Texas Intermediate crude oil was up 2.3% at $62.01 a barrel intraday.

"Oil prices edged higher as a winter storm disrupted US crude production and refinery operations, though gains were partially offset by the resumption of supply from Kazakhstan," D.A. Davidson said in a note to clients.

In economic news, US consumer confidence tumbled this month to its lowest level since May 2014 amid broad-based weakness and concerns about the labor market and inflation, the Conference Board said.

"The consumer confidence data had started to look like it was improving in recent months after spending most of 2025 down in the dumps," Jefferies said in a note. "However, this month's report shows renewed concern about difficulty in finding a new job after losing one, and an increase in the high-end of inflation expectations."

Gold was little changed at $5,080.50 per troy ounce. Silver tumbled 7.6% to $106.71 per ounce intraday after having crossed the $115 level for the first time ever on Monday.