Stocks rose on Tuesday, boosted by sharp gains in chips, as Wall Street set out to wrap up a strong first half and second quarter. Traders also monitored oil prices amid uncertainty surrounding the conflict in the Middle East.
The Dow Jones Industrials faded 39.56 points to 52,147.67.
The S&P 500 inched higher 10.06 points to 7,450.49.
The NASDAQ improved 97.43 points to 25,917.58.
The moves higher were supported by a rise in chip stocks. Shares of Nvidia gained more than 1%, while Advanced Micro Devices added 3%. Intel shares popped 4%.
Tuesday marks the final day of the first half and the second quarter.
The Dow has climbed more than 8% in the first six months of the year, putting it on pace for its best first-half performance since 2021, when it jumped 12.7%.
The S&P 500 is also up more than 8% in the first half, while the NASDAQ has outperformed with a more than 11% advance.
The start of the year was characterized by volatility. While the major averages hit all-time highs, they did so in spite of wild swings in energy prices due to the Iran war as well as uncertainty around the sustainability of AI spending.
The second quarter of the year, however, has been especially strong for stocks, as fears around the AI trade eased and the war appeared to near a resolution.
The S&P 500 is ahead 14% and NASDAQ has risen about 20% for Q2, on pace for their biggest quarterly gain since the second quarter of 2020. The Dow has gained more than 12% in that time, headed for its strongest quarter since Q4 2022.
Prices for the 10-year Treasury fell back, raising yields to 4.41% from Monday’s 4.37%. Treasury prices and yields move in opposite directions.
Oil prices ditched 49 cents to $70.26 U.S. a barrel.
Gold prices revived $2.50 to $4,041.40 U.S. an ounce.
