Stock market today: Indexes add to records as traders parse more economic data and Fed comments

• Stock indexes continued to rise after Monday's record close.
• Investors are parsing through data and Fed commentary to determine future rate cuts.
• On Tuesday, Fed Governor Michelle Bowman explained why she dissented against a deep cut in September.

Stocks on Tuesday extended a winning streak that has pushed the Dow Jones Industrial Average and the S&P 500 to fresh records.

Both indexes closed at all-time highs on Monday amid rising outlooks that the Federal Reserve will deliver another half-point interest rate cut in November. The odds of another jumbo cut rose as high as 53%, according to the CME's FedWatch Tool.

To better understand where monetary policy may be headed after the Fed's first rate cut in four years, investors are tuning into Fed commentary and parsing through incoming data.

While dovish remarks from two Fed presidents helped drive fresh upside for stocks to start the week, Fed Governor Michelle Bowman's commentary on Tuesday gave investors a different perspective.

Bowman — the only Fed official to dissent against September's 50 basis point cut — explained that inflation remained too elevated for her comfort.

"I continue to see greater risks to price stability, especially while the labor market continues to be near estimates of full employment," she said at an event in Kentucky.

Eight other speaking engagements are scheduled for Fed officials this week.

Investors will also consider incoming consumer confidence data and the Richmond Fed's manufacturing index, both of which will be published later on Tuesday.

Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:

• S&P 500: 5,720.96, up 0.05%
• Dow Jones Industrial Average: 42,147.18, up 0.05% (+22.53 points)
• Nasdaq composite: 18,007.95, up 0.19%

Here's what else is going on:

• As firms call for workers to return to office, this Wall Street CEO is still defending work-from-home.
• Value-investing legend Bill Nygren is targeting this stock as he warns that the S&P 500 is losing diversity.
• Widespread spending is about to boost the jobs market, Apollo's chief economist says.
• These are the most important days for the stock market ahead of the election, according to Bank of America.

In commodities, bonds, and crypto:

• Oil futures were up. West Texas Intermediate crude oil jumped 2.22% to $71.94 a barrel. Brent crude, the international benchmark, increased 2.04% to $75.41 a barrel.
• Gold was about flat at $2,651.6 an ounce.
• The 10-year Treasury yield rose five basis points at 3.796%.
• Bitcoin inched up 0.14% to $63,455.