21.07.202613:35:11UTC+00US Stocks Gain Traction

US equity indices closed mostly higher on Tuesday, led by gains in the technology sector ahead of key earnings reports. The S&P 500 and the Dow each advanced about 0.5%, breaking out of several subdued sessions, while the Nasdaq 100 climbed 1%. Shares of Micron, Intel, and SanDisk jumped roughly 7%, extending their rebound from last week’s selloff as strong export data from Taiwan and South Korea sustained momentum for semiconductor makers. The sector strengthened ahead of Alphabet’s earnings report tomorrow, which investors view as another indicator of AI infrastructure demand from hyperscalers. Tesla also added 1% in advance of its results, due tomorrow.

Elsewhere, other sectors stabilized, pausing recent declines despite a further escalation in tensions between Iran and the US and the associated upward pressure on energy prices. Treasury yields remained elevated, prompting some profit-taking in financial stocks after last week’s earnings-driven rally. GM gained 2% after releasing its quarterly results, while Charles Schwab fell 3% following an earnings miss.