The S&P 500 rose 0.1% to sit 0.4% below the all‑time high set last month, while the Nasdaq Composite climbed 0.4% to a fresh record. By contrast, the Dow Jones Industrial Average fell 168 points, or 0.3%, in mid‑afternoon trade.

Energy and financial stocks led the declines on Wall Street. ConocoPhillips dropped 1.7% as crude prices retreated, and major banks such as JPMorgan Chase fell 3.1% after the Federal Reserve raised its benchmark overnight rate – the first hike in three years – putting pressure on the spread between short‑ and long‑term yields.

AutoZone posted a stronger‑than‑expected quarterly profit, sending its shares up 6.1% despite revenue missing forecasts. CEO Phil Daniele described the first two months of the quarter as a “difficult selling environment” but said the company is well positioned for sales growth in the upcoming fiscal year.

Recreational‑vehicle maker Thor Industries saw its stock rise 5.1% after reporting a profit beat, though CEO Bob Martin warned that high fuel costs, elevated interest rates and persistent inflation are stretching customers’ budgets and have delayed the industry’s expected inflection point.

Swiss sneaker and sportswear group Holding announced new financial targets and a $1 billion share‑buyback programme through 2029, lifting its U.S.-listed shares 8.8% and signalling confidence in cash returns to investors.

In the commodities arena, Brent crude briefly dipped below $98 a barrel before rebounding to $99.66, still well above the $72 level seen before the Iran‑related conflict escalated, underscoring ongoing uncertainty about Middle‑East oil flows.

Across the Pacific, the Australian Securities Exchange added 0.3% on Tuesday, with futures pointing to a modest rise of 0.3% at the open. The Australian dollar traded at US 0.7112.

Analysts cited by FactSet project that S&P 500 constituents could post nearly 29% earnings growth for the quarter ending September, potentially marking a third consecutive quarter of more than 25% growth and reinforcing the link between corporate profits and stock valuations.