Wall Street experienced a sense of tranquility as technology shares played a pivotal role in driving U.S. indexes higher.
On Tuesday, the S&P 500 reported a gain of 0.7%, bouncing back after a turbulent day fueled by concerns regarding potential trade wars stemming from President Donald Trump’s tariffs that could impact global economies.
Meanwhile, the Dow Jones Industrial Average experienced an increase of 0.3%, and the Nasdaq composite surged by 1.4%.
On Monday, President Trump made a decision to postpone tariffs on Canada and Mexico for an additional month.
Despite this, he remains focused on implementing measures against China, which has responded with its own set of retaliatory tariffs.
Palantir Technologies provided a strong performance driven by a positive profit report, which significantly contributed to the S&P 500’s success.
In specific numbers from Tuesday:
The S&P 500 rose 43.31 points, equivalent to 0.7%, closing at 6,037.88.
The Dow Jones Industrial Average increased by 134.13 points, or 0.3%, finishing at 44,556.04.
The Nasdaq composite climbed 262.06 points, or 1.4%, to end at 19,654.02.
The Russell 2000 index, which tracks smaller companies, also gained 31.79 points, or 1.4%, reaching 2,290.20.
Looking at the week thus far:
The S&P 500 is slightly down by 2.65 points, representing less than 0.1%.
The Dow has experienced a minor increase of 11.38 points, again less than 0.1%.
The Nasdaq saw a modest improvement of 26.57 points, or 0.1%.
The Russell 2000 has advanced by 2.51 points, or 0.1%.
When reflecting on the year to date, the performance has been notable:
The S&P 500 is up by 156.25 points, which correlates to an increase of 2.7%.
The Dow has risen substantially by 2,011.82 points, amounting to a 4.7% gain.
The Nasdaq has grown by 343.22 points, equating to an increase of 1.8%.
Lastly, the Russell 2000 index has improved by 60.05 points, reflecting a gain of 2.7%.