Stocks closed higher Tuesday as market participants panned a busy batch of corporate earnings reports and looked ahead to tomorrow's Federal Reserve policy announcement. Chip stocks were a notable pocket of strength, with several mega caps soaring on news of a $63 billion deal between Broadcom ( AVGO ) and Anthropic ( ANT ).

At the close, the tech-heavy Nasdaq Composite was up 1.2% at 26,477, the broader S&P 500 was 0.6% higher at 7,722, and the blue-chip Dow Jones Industrial Average had added 0.03% to 52,377.

Broadcom jumped 4% to trade near the top of the S&P 500 after the chipmaker late Monday announced a $63 financing deal that will allow Anthropic to buy AVGO's artificial intelligence (AI) technology.

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