The S&P 500 rose on Tuesday as enthusiasm surrounding chipmakers led traders to move into the names for another day. Traders also monitored a slide in oil prices and parsed through a slew of corporate earnings as the Federal Reserve began its two-day policy meeting.
The broad market index was up 0.3%, while the Dow Jones Industrial Average climbed 74 points, or 0.1%. The Nasdaq Composite gained 0.5%.
SoFi Technologies posted yet another impressive quarter: an earnings beat, raised outlook for this year, and new guidance for 2027.
SoFi raised its full-year 2026 guidance, saying it now expects adjusted net revenue of about $5.04 billion, up from a prior range of $4.75 billion to $4.85 billion. Management also projects adjusted earnings of 61 cents a share, slightly higher than the previous guidance of 60 cents a share.
The digital neobank also outlined preliminary guidance for 2027. During the year, SoFi expects adjusted net revenue to grow 27% to around $6.4 billion. Adjusted earnings are expected to reach 90 cents a share.
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