The S&P 500 rose to a fresh all-time intraday high on Tuesday, boosted by gains in key technology names as well as declines in Treasury yields.
The Dow Jones Industrials rocketed 253.38 points to 51,521.28
The broader index gained 44.98 points to 7,818.93
The NASDAQ Composite gained 122.48 points to 27,599.79, and also hit a new all-time high.
The moves higher were bolstered by a rise in chipmakers. Marvell Technology popped 6%, and Advanced Micro Devices gained 3%, as investors grew optimistic about the companies’ outlooks. Others, such as Broadcom, traded up 4%.
Traders are now looking ahead to the Federal Reserve’s minutes from its September meeting due Wednesday, which could shed some light on policymakers’ move to raise rates.
Prices for the 10-year Treasury advanced, lowering yields up to 5.28% from Monday’s 5.31%. Treasury prices and yields move in opposite directions.
Oil prices eased 36 cents to $89.79 U.S. a barrel.
Gold prices grabbed $40.40 to $4,197.20 U.S. an ounce.
