Highlights
Major stock indexes gained Tuesday as the AI/chipmaker momentum trade returned in force. The Dow Jones industrial average rose 0.7 percent while the S&P 500 gained 0.9 percent and the Nasdaq was up 1.3 percent. Bond yields, the dollar and oil prices all rose.
Chipmakers saw sustained gains as traders viewed the recent pullback as a buying opportunity. Energy stocks outperformed as oil prices continued to advance on the Mideast situation. Positive earnings news spurred rallies in several stocks including 3M, General Motors and Hasbro. Financials advanced with a boost from rising bitcoin and expectations for more regulatory progress for crypto.
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