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Stocks ticked higher Tuesday, with the S&P 500 and the NASDAQ Composite closing at new records, as investors looked toward artificial intelligence favorite Nvidia’s earnings report Wednesday.
The Dow Jones Industrials gained 66.22 points to close Tuesday at 39,872.99.
The S&P 500 gained 13.28 points to 5,321.41.
The NASDAQ regained 37.25 points to 16,863.62.
Nvidia shares advanced 0.6% prior to its earnings report due Wednesday after the close. Analysts are expecting the semiconductor giant to post another strong batch of results. Shares have surged about 92% in 2024 alone, and have rallied 205% over the past 12 months. The stock has been at the center of a market rally largely led by enthusiasm that AI will boost corporate profits.
Palo Alto Networks shares fell 3.7% Tuesday. While beating expectations for both lines in the fiscal third quarter, the cybersecurity company delivered current-quarter guidance that was only in line with consensus forecasts of analysts polled by LSEG.
Those moves come after a mixed day on Wall Street. The Nasdaq notched intraday and closing records, while the Dow fell on the back of steep declines in JPMorgan Chase shares.
Prices for the 10-year Treasury slipped, raising yields to 4.41% from Monday’s 4.44%. Treasury prices and yields move in opposite directions.
Oil prices shed 74 cents to $79.06 U.S. a barrel.
Gold prices dipped $11.10 to $2,427.40.
