Wall Street surged on Tuesday sending all three major U.S. stock indexes higher. S&P 500 is now within 5 per cent of its record closing high reached on February 19, having plunged as much as 18.9 per cent below that level in the wake of Donald Trump’s erratic tariff announcements, which have whipsawed markets for much of the President’s second term. According to preliminary data, the S&P 500 gained 118.93 points, or 2.05 per cent, to end at 5,921.75 points, while the Nasdaq Composite gained 460.64 points, or 2.46 per cent, to 19,197.85. The Dow Jones Industrial Average rose 738.18 points, or 1.77 per cent, to 42,341.25.
All 11 major sectors of the S&P 500 were green. Airlines and megacap tech-related growth stocks were the clear outperformers.
Semiconductors were also ahead of the pack, one day before chipmaker Nvidia is due to report its quarterly results. Year-on-year, the AI darling is expected to post a 43.5 per cent jump in earnings per share, on a 66.2 per cent revenue surge.
Temu-parent PDD Holdings dropped after reporting a 47 per cent fall in first-quarter profit and missed quarterly revenue estimates.
Investor risk appetite was buoyed by U.S. President Donald Trump’s latest tariff respite and an unexpected jump in consumer confidence. Strength in the AI-related “magnificent seven” group of momentum stocks putting the tech-laden Nasdaq out front.
FAQs
Q1. What are key indexes of US Stock Market?
A1. Key indexes of US Stock Market are — S&P 500, Dow Jones, and Nasdaq.Q2. How has S&P 500 performed?
A2. All 11 major sectors of the S&P 500 were green.