Wall Street gained ground by midday trading on Tuesday, as investor concerns over the economic impact of trade tensions continued to ease following recent signs that the Trump administration was taking a more conciliatory approach.
All major indexes were in positive territory, with tech stocks leading the way thanks to strong performances by Netflix Inc. (NASDAQ:NFLX) and Palantir Technologies Inc. (NASDAQ:PLTR), both rising about 6%.
The streaming giant climbed following a Wall Street Journal report that it plans to double revenue by 2030, citing sources. Netflix is set to release its first-quarter earnings on Thursday after market close.
The S&P 500 has now recovered nearly 80% of the losses suffered after Trump's tariff announcement on April 2.
Among sectors, financials led the gains, climbing 1.3%, supported by strong earnings reports from Bank of America Corp. (NYSE:BAC) and Citigroup Inc. (NYSE:C), which surged 4.3% and 3.8%, respectively.
The U.S. Dollar Index (DXY) rebounded 0.5%, aiming to end a five-day losing streak, while Treasury yields declined further, easing fears of a potential sell-off of U.S. assets by foreign investors. Yields on the 10-year Treasury fell five basis points to 4.33%, following an 11-basis-point drop on Monday.
In commodities, gold edged up 0.4% to $3,223 per ounce, while oil prices slipped 0.8% to $61 per barrel. Natural gas dropped 1.6% to $3.25 per million British thermal units, approaching its lowest level since mid-December 2024.
Crypto markets remained relatively quiet, with Bitcoin (CRYPTO: BTC) rising 0.5% to $85,000.
Tuesday’s Performance In Major U.S. Indices, ETFs
| Major Indices | Price | 1-day chg % |
| Nasdaq 100 | 18,934.51 | 0.7% |
| Russell 2000 | 1,888.28 | 0.4% |
| S&P 500 | 5,424.34 | 0.3% |
| Dow Jones | 40,639.56 | 0.3% |
According to Benzinga Pro data:
- The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.3% to $540.87.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) inched 0.1% higher to $405.36.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) increased 0.7% to $460.14.
- The iShares Russell 2000 ETF (NYSE:IWM) edged 0.4% higher to $187.22.
- The Financial Select Sector SPDR Fund (NYSE:XLF) outperformed, up 1.3%; the Health Care Select Sector SPDR Fund (NYSE:XLV) lagged, down 0.5%.
S&P 500’s Top 5 Gainers On Monday
| Company | % Change |
|---|---|
| Netflix, Inc. | 5.88% |
| Palantir Technologies Inc. | 5.18% |
| Hewlett Packard Enterprise Company (NYSE:HPE) | 4.87% |
| CrowdStrike Holdings, Inc. (NASDAQ:CRWD) | 4.53% |
| Bank of America Corporation | 4.38% |
S&P 500’s Worst 5 Losers On Monday
| Company | % Change |
|---|---|
| Albemarle Corporation (NYSE:ALB) | -4.25% |
| Molina Healthcare, Inc. (NYSE: МОH) | -3.66% |
| Zimmer Biomet Holdings, Inc. (NYSE:ZBH) | -3.14% |
| Moderna, Inc. (NASDAQ:MRNA) | -2.94% |
| The Campbell’s Company (NYSE: СРB) | -2.75% |
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