Wall Street rises on strong earnings and falling oil prices
Wall Street closed mostly higher on Tuesday, driven by strong industrial earnings and falling oil prices, which offset weakness in the technology sector. The Dow Jones rose 1.02%, the S&P 500 gained 0.29%, and the Nasdaq was flat at -0.02%. Investors rotated from AI-related stocks into traditional sectors like industrials, pharmaceuticals, and banks, supported by solid quarterly results and easing oil prices amid hopes of US-Iran dialogue. Defense companies like RTX and Northrop Grumman rose, while Hasbro jumped 11.20% on strong earnings. The 10-year Treasury yield eased to 5.11%, and concerns persisted over AI valuations following a weak Seoul debut for data center firm Elice. SpaceX reported its first profitable quarter, with Meta and Tesla results expected Wednesday.