Stocks Ended Higher as Fed Meeting Got Underway

U.S. stocks ended higher on Tuesday in a turbulent session, as Fed meeting got underway. The Dow Jones Industrial Average advanced 82.66 points, or 0.35%, to 23,675.64. The S&P 500 edged up 0.22 point, or 0.01%, to 2,546.16. The Nasdaq Composite gained 30.18 points, or 0.45%, to 6,783.91.

Oil futures tumbled on Tuesday, as concerns over a potential global supply glut rattled the market. January West Texas Intermediate crude dropped $3.64, or 7.3%, to settle at $46.24 a barrel. February Brent tumbled $3.35, or 5.6%, to $56.26 a barrel.

Micron (MU) reported fiscal 2019 Q1 earnings. The chipmaker earned $2.97 per share during the quarter which was better than consensus estimates of $2.95 per share. However, revenue came in weaker than anticipated at $7.91 billion.