S&P 500 Up 0.9%, Nasdaq Gains 1.9% on Tuesday as Chip Stocks Rally 4.7% and Earnings Season Kicks Off

SPX500-0.21%
NAS100-0.67%
US30-0.15%
SMH0.31%
NVDA2.36%
U.S. stock indices ended higher on Tuesday, driven by strength in semiconductor stocks and robust earnings reports. The S&P 500 gained 0.9% to close at 7,509.20, the Nasdaq 100 surged 1.9% to 29,155.18, and the Dow Jones Industrial Average added 0.7% to 52,224.64. The VanEck Semiconductor ETF (SMH) rallied 4.7%, supported by gains in Nvidia, Advanced Micro Devices, Micron Technology and Broadcom. Industrial giant 3M jumped more than 7% after beating analyst expectations in second-quarter earnings. With roughly 66 S&P 500 companies having reported so far, nearly 88% have exceeded bottom-line estimates, per FactSet.
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