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The major stock benchmarks diverged on Tuesday, as traders pored through the latest batch of corporate earnings, while semiconductor names kept struggling.
The Dow Jones Industrials popped 639.82 points, or 1.2%, to 52,849.90. 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 more than 6% following an earnings beat.
The S&P 500 reversed course and strengthened 33.25 points to 7,446.43
The NASDAQ Composite cleared breakeven 28.51 points to 24,960.59, led by 9% a decline in Micron. Arm Holdings and Teradyne fell 7%.
Prices for the 10-year Treasury gained, lowering yields to 4.59% from Monday’s 4.65%. Treasury prices and yields move in opposite directions.
Oil prices subsided $3.40 to $79.21 U.S. a barrel.
Gold prices declined $40.10 to $4,036.90 U.S. an ounce.
