WASHINGTON (dpa-AFX) - After starting the week off on an upbeat note, stocks showed another notable move to the upside during trading on Tuesday. The tech-heavy Nasdaq led the way higher, bouncing further off the two-month closing low set last Friday.
The Nasdaq gave back some ground going into the end of the day but still jumped 308.43 points or 1.2 percent to 26,477.60. The S&P 500 also climbed 45.83 points or 0.6 percent to 7,722.60, while the narrower Dow posted a more modest gain, inching up 15.99 points or less than a tenth of a percent to 52,377.57.
Tech stocks continued to recover from the sharp pullback seen late last week amid renewed optimism about the artificial intelligence trade after AI giant Anthropic publicly filed for an initial public offering on Monday.
Potentially adding to the positive mood around AI, Nvidia (NVDA) and Meta (META) have announced they will partner to expand their work on Muse and the Muse family of models.
Under the partnership, Nvidia said it would invest $3 billion in Meta as part of the Facebook parent's plans to raise up to $95 billion through equity financing.
Shares of Broadcom (AVGO) also surged by 3.8 percent after Bank of America (BAC), Blackstone (BX), Citi (C) and Morgan Stanley (MS) announced a $63 billion transaction to enable the deployment of AI compute capacity, leveraging the chipmaker's technology, for Anthropic.
Concerns about debt-fueled AI infrastructure spending weighed heavily on the markets late last week, although traders have recently shown a propensity to quickly shrug off the worries.
A positive reaction to some of the latest earnings news also generated buying interest, with shares of JetBlue (JBLU) soaring by 19.8 percent.
The spike by JetBlue came after the company reported a wider than expected third quarter loss but said it expects further margin expansion in the fourth quarter.
Package delivery giant UPS (UPS) also spiked by 6.5 percent after reporting third quarter results that exceeded analyst estimates and raising its full-year guidance.
On the other hand, a steep drop by shares of Boeing (BA) limited the upside for the Dow, with the aerospace giant plummeting by 10.7 percent after reporting a wider than expected third quarter loss.
Sector News
Computer hardware stocks turned in some of the tech sector's best performances, resulting in a 4.1 percent spike by the NYSE Arca Computer Hardware Index.
Semiconductor and networking stocks also saw significant strength, contributing to the jump by the tech-heavy Nasdaq.
Outside of the tech sector, airline stocks moved sharply higher amid an extended pullback by the price of crude oil, with the NYSE Arca Airline Index soaring by 4.7 percent.
Gold stocks also saw considerable strength amid an increase in the price of the precious metal, while oil-producer stocks nosedived.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in yet another mixed performance on Tuesday. Japan's Nikkei 225 Index jumped by 1.7 percent, while China's Shanghai Composite Index slumped by 1.3 percent.
The major European markets also ended the day mixed. While the U.K.'s FTSE 100 Index slid by 0.8 percent, the French CAC 40 Index climbed by 0.5 percent and the German DAX Index advanced by 0.7 percent.
In the bond market, treasuries continued to show a lack of direction, closing roughly flat for the second straight day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, crept up by less than a basis point to 4.993 percent.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
