U.S. share markets ended the session higher on Tuesday, driven by gains in Technology, Industrials and Consumer Services stocks that helped push main indexes into positive territory.
At the New York Stock Exchange close, the Dow Jones Industrial Average had climbed 2.49%. The S&P 500 finished the day up 2.91%, and the NASDAQ Composite rose 3.83%.
Notable movers on the Dow
Among the 30 components of the Dow Jones Industrial Average, Caterpillar Inc (NYSE:CAT) was the top performer, rising 6.15% - a gain of 41.03 points to finish at 708.46. NVIDIA Corporation (NASDAQ:NVDA) added 5.59%, or 9.23 points, to close at 174.40. Boeing Co (NYSE:BA) also posted a strong showing, up 5.19% or 9.82 points to end the session at 199.03.
On the downside for the Dow, Chevron Corp (NYSE:CVX) fell 1.81%, a decline of 3.81 points, to 206.90 at the close. Coca-Cola Co (NYSE:KO) slipped 0.28% or 0.21 points to 76.06, and Procter & Gamble Company (NYSE:PG) declined 0.21% or 0.30 points to 144.42.
Top performers and laggards on the S&P 500
Within the S&P 500, ON Semiconductor Corporation (NASDAQ:ON) led gainers, advancing 11.25% to 61.92. Monolithic Power Systems Inc (NASDAQ:MPWR) climbed 9.31% to close at 1,093.43, while Super Micro Computer Inc (NASDAQ:SMCI) was up 8.12% to 22.77.
The weakest names on the S&P 500 included Constellation Energy Corp (NASDAQ:CEG), which was down 6.47% to 279.29 at the close. McCormick & Company Incorporated (NYSE:MKC) lost 6.12%, settling at 50.44, and CF Industries Holdings Inc (NYSE:CF) declined 5.64% to end the session at 129.84.
Nasdaq breadth and extremes
On the NASDAQ Composite, the session’s largest percentage winners included Apellis Pharmaceuticals Inc (NASDAQ:APLS), which surged 135.40% to 40.23. U BX Technology Ltd (NASDAQ:UBXG) jumped 115.48% to 3.34, and 3 E Network Technology Group Ltd (NASDAQ:MASK) gained 83.06% to close at 2.27.
At the other end of the Nasdaq spectrum, NeoConcept International Group Holdings Ltd (NASDAQ:NCI) fell 69.57% to 1.78. IO Biotech Inc (NASDAQ:IOBT) dropped 65.95% to 0.06, and PepGen Ltd (NASDAQ:PEPG) declined 58.16% to 1.77 at the close.
Market breadth and notable price milestones
Rising issues outnumbered decliners on the NYSE by 2,141 to 620, with 53 shares unchanged. On the Nasdaq, 2,664 issues advanced while 757 declined, and 144 finished flat.
Several individual stocks reached significant price milestones during the session. McCormick & Company Incorporated (NYSE:MKC) fell to 5-year lows, dropping 6.12% or 3.29 to close at 50.44. Apellis Pharmaceuticals Inc (NASDAQ:APLS) reached 52-week highs, gaining 135.40% or 23.14 to finish at 40.23. IO Biotech Inc (NASDAQ:IOBT) fell to an all-time low, sliding 65.95% or 0.11 to 0.06.
Volatility, commodities and FX
The CBOE Volatility Index, which tracks implied volatility of S&P 500 options, eased 17.45% to 25.27.
In commodities trading, Gold Futures for June delivery were up 3.15%, rising 143.42 to $4,700.92 a troy ounce. U.S. crude oil for delivery in May fell 1.21% or 1.24 to $101.64 a barrel, while the June Brent oil contract declined 3.52% or 3.78 to trade at $103.61 a barrel.
In currency markets, the euro-dollar pair (EUR/USD) strengthened 0.83% to 1.16, while the dollar-yen rate (USD/JPY) fell 0.59% to 158.74. The US Dollar Index Futures declined 0.69% to 99.67.
Bottom line
Tuesday’s session saw broad-based gains with Technology, Industrials and Consumer Services leading the advance. While a number of large-cap names rallied, other blue-chip names and several small-cap and biotech stocks experienced sharp declines or notable price milestones. Volatility eased and commodity and FX prices diverged, reflecting mixed moves outside equity markets.