The Dow Jones Industrial Average rallied on Tuesday, buoyed by strong earnings, falling oil prices and a rotation out semiconductors into other parts of the market.
The 30-stock index popped 537.45 points, or 1%, to 52,747.53. Sherwin-Williams rose 8% on the back of better-than-expected results for Q2 to lead the benchmark higher. Fellow Dow member Coca-Cola also gained nearly 5% following an earnings beat.
The S&P 500 climbed 16.04 points to 7,429.22
The NASDAQ Composite closed in the red 55.17 points to 24,876.91.
Tech earnings remain top of mind for investors this week, as traders await results from Amazon, Apple, Meta Platforms and Microsoft.
Prices for the 10-year Treasury gained ground, lowering yields to 4.60% from Monday’s 4.65%. Treasury prices and yields move in opposite directions.
Oil prices subsided $3.68 to $78.93 U.S. a barrel.
Gold prices declined $50.50 to $4,026.50 U.S. an ounce.
