Home›US Markets›Indices›Dow snaps three-day slide as earnings lift sentiment

Dow snaps three-day slide as earnings lift sentiment

The rebound coincided with a crude-led move higher, with WTI back above $85 and Brent above $91, while tariff actions also entered focus.

Reported · Written up by our desk · Indices

The Dow Jones Industrial Average rose about 340 points, or 0.7%, on Tuesday, snapping a three-day slide that had pulled the index away from its early July record just above 53,300. The gain ran into resistance around the 52,200 area, with the index trading roughly 2% short of the high-water mark by midday New York time.

The rally had support from company results and a firmer energy tape, as reports of a mediator-drafted 10-day ceasefire proposal in the Middle East circulated and crude oil added to risk appetite. CENTCOM’s air campaign against Iran continued into a tenth consecutive night, while West Texas Intermediate climbed back above $85 and Brent moved above $91.

Earnings also drove market breadth, with nearly 88% of the roughly 66 S&P 500 companies reporting so far beating profit expectations, according to FactSet. 3M jumped more than 9% after a second-quarter beat, and General Motors gained about 3% after clearing both revenue and profit estimates.

Semiconductors were a standout theme, with the iShares Semiconductor ETF (SOXX) up about 5%, Micron up about 7%, Intel up more than 5%, and Marvell Technology up around 6%. Attention also turned to trade policy, as a 50% tariff on most Canadian goods took effect Monday and the U.S. Trade Representative said action against dozens of countries is coming soon.

Latest closeWTI crude $78.07 ▲3.8%|Brent $83.46 |S&P 500 7,709.96 ▼0.2%

More like this

Sources