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The NASDAQ Composite and S&P 500 rose on Tuesday, with the former hitting a fresh all-time intraday high, as oil prices eased for another day.
The Dow Jones Industrials backtracked 248.8 points to 51,799.03
The much-broader Index squeezed higher 2.41 points to 7,767.13.
The NASDAQ Composite surged 127.6 points to 27,249.08, for its second record high in as many days, supported by a 7% gain in shares of
Sandisk following a bullish call from Rosenblatt.
Viking Therapeutics shares are up 31% in morning trading Tuesday after it announced the results of its latest study for its diabetes and obesity drug, VK2735.
After 21 weeks, patients taking the drug lost between 16% and 19% of their body weight, making it competitive with rival treatments from Eli Lilly and Novo Nordisk.
Oil prices moved lower after Iran reportedly offered to reopen the Strait of Hormuz within seven days. To be sure, the reports have not been independently verified. Saudi Arabia is also reportedly planning to restart its East-West pipeline as early as this week.
Prices for the 10-year Treasury were static, keeping yields at Monday’s 4.95%.
Oil prices retreated $1.16 to $94.62 U.S. a barrel.
Gold prices dulled $15.90 to $4,368.00 U.S. an ounce.
