The Nasdaq 100 surged past 28,000 during Tuesday morning trading, setting a fresh record as AI-driven gains in semiconductor stocks continued to power the broader tech sector, defying pressure from elevated oil prices and geopolitical tension.
• State Street Materials Select Sector SPDR ETF shares are trending higher. What’s driving XLB shares up?
The S&P 500 climbed 0.8% to 7,259 by midday trading in New York, while the Dow Jones Industrial Average added 0.6% to 49,228 and the tech-heavy Nasdaq 100 jumped 1.1%.
Small-caps led the tape, with the Russell 2000 rallying 1.6% to 2,840 as falling Treasury yields lifted rate-sensitive corners of the market. The CBOE Volatility Index slipped 4.6% to 17.45, signaling a notable easing of risk aversion.
The driving force was a sharp drop in energy prices. WTI crude tumbled 4.1% to $102.08 a barrel and Brent slid 3.5% to $110.47 after President Donald Trump signaled progress in negotiations with Iran.
The 10-year Treasury yield ticked down to 4.07%, and the long bond eased to 4.42%, supporting interest-rate-sensitive sectors. The U.S. Dollar Index drifted lower as the euro firmed to 1.1700 and the British pound advanced to 1.3564.
Gold added 0.9% to $4,562 an ounce, while Bitcoin (CRYPTO: BTC) rebounded 1.9% to $81,404, lifting crypto-linked equities.
Tuesday’s Performance In Major U.S. Indices, ETFs
| Index | Last | Change | % Change |
|---|---|---|---|
| S&P 500 | 7,259.11 | +58.36 | +0.8% |
| Dow Jones Industrial Average | 49,227.98 | +286.08 | +0.6% |
| Nasdaq 100 | 27,947.58 | +295.76 | +1.1% |
| Russell 2000 | 2,840.10 | +44.10 | +1.6% |
According to Benzinga Pro platform:
- The SPDR S&P 500 ETF Trust (ARCA: SPY) rose 0.8%.
- The SPDR Dow Jones Industrial Average ETF Trust (ARCA: DIA) gained 0.6%.
- The Invesco QQQ Trust (NASDAQ: QQQ) advanced 1.1%.
- The iShares Russell 2000 ETF (ARCA: IWM) jumped 1.6%.
Sector Performance: Materials Lead, Communications Lag
Cyclicals dominated the leaderboard. The Materials Select Sector SPDR Fund (ARCA: XLB) led the tape with a 2.2% advance as copper futures rallied 2.8% on supply tightness and weaker dollar dynamics. The Technology Select Sector SPDR Fund (ARCA: XLK) climbed 2.1%, powered by chipmakers and capital-equipment names.
The Communication Services Select Sector SPDR Fund (ARCA: XLC) fell 0.5%, as both Meta Platforms Inc. (NASDAQ:META) and Netflix Inc. (NASDAQ:NFLX) continued to slide.
Chip and chip-equipment names led the tech complex higher. Intel Corporation (NASDAQ: INTC) surged 14.11% to $109.29 on renewed reports that Apple Inc. (NASDAQ:AAPL) is evaluating Intel’s foundry services for a future generation of in-house silicon, lending fresh credibility to the chipmaker’s turnaround under CEO Lip-Bu Tan.
Micron Technology, Inc. (NASDAQ: MU) rallied 9.8% to $633 amid resilient AI-memory pricing and bullish hyperscaler capex commentary, while SanDisk Corporation (NASDAQ: SNDK) tracked higher in sympathy.
Bullish (NYSE: BLSH), a cryptocurrency exchange and blockchain technology company, led the entire Russell 1000 with a 13% surge to $45.99, riding renewed enthusiasm in digital-asset infrastructure as Bitcoin reclaimed $81,000.
Earnings reactions and idiosyncratic catalysts drove outsized single-name moves on Tuesday.
Waters Corp (NYSE: WAT) jumped 12.2% to $338.83 after delivering a strong quarterly print and lifting full-year guidance, while industrial bellwether Rockwell Automation, Inc. (NYSE: ROK) climbed 11.8% on a top- and bottom-line beat that reinforced reshoring momentum.
On the downside, BellRing Brands, Inc. (NYSE: BRBR) collapsed 43.4% to $9.82, the day’s worst Russell 1000 performer, after the protein-shake maker slashed its full-year sales and earnings outlook, citing intensifying competition in the ready-to-drink nutrition aisle. IPG Photonics Corporation (NASDAQ: IPGP) tumbled 25.9% on a downbeat industrial-laser demand backdrop and weak forward guidance, and Inspire Medical Systems, Inc. (NYSE: INSP) sank 16.4% as competitive concerns and softer procedure trends weighed on the sleep-apnea device maker.
Construction-tech name Procore Technologies, Inc. (NYSE: PCOR) fell 10.6% after a soft billings outlook clouded otherwise solid quarterly results, while defense contractor Huntington Ingalls Industries, Inc. (NYSE: HII) dropped 10.1% on shipbuilding margin pressure. Within financials, Fiserv, Inc. (NYSE: FISV) shed 9.3% on continued payment-volume concerns, weighing on the broader sector.
Russell 1000 Top Gainers
| Company | % Change |
|---|---|
| Bullish | +13% |
| Waters Corp | +12.2% |
| Intel Corp | +14.11% |
| Rockwell Automation | +11.8% |
| Micron Technology | +9.8% |
Russell 1000 Top Losers
| Company | % Change |
|---|---|
| BellRing Brands | -43.4% |
| IPG Photonics | -25.9% |
| Inspire Medical Systems | -16.4% |
| Procore Technologies | -10.6% |
| Huntington Ingalls Industries | -10.1% |
Photo: PJ McDonnell via Shutterstock
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