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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 vaulted 417.16 points to 52,627.24. Sherwin-Williams rose 7% on the back of better-than-expected results for Q2 to lead the benchmark higher. Fellow-Dow member Coca-Cola also gained more than 46% following an earnings beat.
The S&P 500 dipped 22.71 points to 7,390.47
The NASDAQ Composite dumped 331.32 points to 24,600.76, led by 10% a decline in Micron. Arm Holdings and Teradyne fell 9%.
Prices for the 10-year Treasury gained, lowering yields to 4.61% from Monday’s 4.65%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.14 to $81.47 U.S. a barrel.
Gold prices tacked on $47.80 to $4,029.20 U.S. an ounce.
