Traders work on the floor of the New York Stock Exchange. <\/p>\n
NYSE<\/p>\n
The Dow Jones Industrial Average<\/a> rose to a record high on Tuesday as investors rotated out of chipmakers and into cyclical stocks amid declining oil prices.<\/p>\n The 30-stock index advanced 328.64 points, or 0.64%, for a record close of 51,999.67. It scored a new all-time intraday high of 52,190.29 in the session. The S&P 500<\/a> fell 0.57% and ended at 7,511.35, while the Nasdaq Composite<\/a> pulled back 1.15% to 26,376.34.<\/p>\n Pulling down the tech-heavy Nasdaq, a number of chip stocks suffered losses Tuesday. Advanced Micro Devices<\/a> dropped more than 7%, while Broadcom<\/a> fell 4%. Micron Technology<\/a> shed 6%. Nvidia<\/a> lost more than 2%.<\/p>\n Elsewhere, oil prices extended their drop<\/a> from the prior trading day. Brent crude futures<\/a> fell 5.06% to close at $78.96 a barrel. U.S. West Texas Intermediate futures<\/a> declined 5.82% to $76.05 a barrel. It was the first settle below $80 a barrel for both since early March.<\/p>\n As oil dipped further, shares of Caterpillar<\/a> led industrials higher, while JPMorgan Chase<\/a> was a leader among banks higher as investors bet that lower energy prices will spur a re-acceleration in the U.S. economy. Caterpillar was up more than 1%, while JPMorgan advanced more than 3%.<\/p>\n SpaceX<\/a> also continued to be a standout with its nearly 5% pop, a move that added to its sharp gains since going public last week. With its gains, SpaceX had at one point surpassed both Microsoft and Amazon in market cap<\/a> during the session. The company priced its initial public offering at $135. It closed at $201.80.<\/p>\n The major averages are building on a winning session from Monday, which occurred on the heels of President Donald Trump<\/a> announcing that the U.S. and Iran had reached a deal to end the war<\/a> in the Middle East. Pakistani Prime Minister Shehbaz Sharif said that both sides have declared the termination of their military operations<\/a> on all fronts, with an official signing ceremony to take place this Friday in Switzerland.<\/p>\n Trump also said that the key Strait of Hormuz passageway would reopen on Friday, sending oil prices down<\/a> nearly 5% on Monday. He later clarified Tuesday that the strait will remain toll free<\/a> beyond the initial 60-day period<\/a>.<\/p>\n “We’re not out of the woods yet,” said Andy Goldberg, chief investment strategist at Nomura Asset Management International.<\/p>\n “If all of a sudden oil prices were to come down quickly, the headline inflation number will come down, but at the same time, it’ll put a lot of money back in consumers’ pockets right at a time where they’re feeling pretty good, and that’s how you can get some more inflation,” he added. “[Federal Reserve Chair Kevin] Warsh has a balancing act on his hands.”<\/p>\n","protected":false},"excerpt":{"rendered":"Traders work on the floor of the New York Stock Exchange. NYSE The Dow Jones Industrial Average rose…\n","protected":false},"author":3,"featured_media":872042,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[329646,266351,342659,9203,3453,133,148,64,81,74331,77,69,91320,144,7074,152483,250818,83,9851,170,2066,16209,7995,135,7070,14229,91322,143,147,91321,145,15243,59001,116924,259091,134,8187,16285,67,132,68,108600],"class_list":["post-872041","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-cl26n","tag-lco26q","tag-lco26x","tag-advanced-micro-devices-inc","tag-amazon-com-inc","tag-breaking-news-markets","tag-broadcom-inc","tag-business","tag-business-news","tag-caterpillar-inc","tag-donald-j-trump","tag-donald-trump","tag-dow-jones-fut-sep25","tag-dow-jones-industrial-average","tag-goldman-sachs-group-inc","tag-ice-brent-crude-oct25","tag-invesco-qqq-trust","tag-iran","tag-j-d-vance","tag-japan","tag-jd-vance","tag-jpmorgan-chase-co","tag-kospi-index","tag-markets","tag-micron-technology-inc","tag-microsoft-corp","tag-nasdaq-100-fut-sep25","tag-nasdaq-composite","tag-nvidia-corp","tag-sp-500-fut-sep25","tag-sp-500-index","tag-south-korea","tag-space-exploration-technologies-corp","tag-spdr-sp-bank-etf","tag-spdr-sp-semiconductors","tag-stock-markets","tag-stoxx-600","tag-suppress-zephr","tag-united-states","tag-unitedstates","tag-us","tag-wti-crude-sep25"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/872041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=872041"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/872041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/872042"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=872041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=872041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=872041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}