DJIA: 35,462.78, up 371.65
S&P 500: 4,521.54, up 37.67
Nasdaq: 14,194.46, up 178.79

Stocks end broad higher on Tuesday

U.S. stocks finished firmly higher on Tuesday as investors emerged to buy the dip in equities and digested a flurry of corporate updates. The Dow jumped 371 points, while the S&P 500 gained 0.8%. The Nasdaq Composite rallied 1.3%. Small-caps outperformed with the Russell 2000 climbing 1.5%.

Eight of 11 S&P 500 sectors closed in positive territory. Materials paced the gains with DuPont de Nemours Inc. advancing 6.3% following a top and bottom line beat and dividend increase. Energy shares bucked the uptrend amid a drop in oil prices. West Texas Intermediate crude shed 1.8% to $89.68/barrel on the prospect of de-escalating tensions over Ukraine and progress in U.S.-Iran nuclear talks. In other corporate news, Amgen Inc. climbed 7.8% after exceeding consensus profit expectations amid a boost in revenue from manufacturing COVID-19 antibodies. Elsewhere, Peloton Interactive Inc. surged 25.3% after announcing restructuring plans that include reducing its workforce by 20% and replacing its CEO, capping a two-day rally of more than 50%. Meanwhile, cybersecurity firm Mandiant rose 17.9% amid reports Microsoft was discussing a potential acquisition of the company.

Treasuries extended their recent rout, with the yield on the 10-year note up four basis points (0.04%) to 1.96%, its highest level since late 2019, ahead of the maturity’s $37 billion auction tomorrow. The benchmark yield has climbed 46 basis points (0.46%) year-to-date as market participants brace for swift monetary policy tightening from the Federal Reserve as officials prioritize combating elevated inflation. On Thursday, a report is forecasted to show consumer prices climbing at the fastest annual pace in 40 years.

Read more about it here.
https://bit.ly/3pIztIw