The Dow Jones Industrial Average hit a new intraday record on Tuesday, with the blue-chip index experiencing a significant rally. At its peak, the 30-stock average surged by over 500 points, showcasing the strength of the market.
Small-cap stocks also continued their impressive performance, with the Russell 2000 index rising by 1% on Tuesday. This marked the fifth consecutive day of gains for the index, highlighting the strong momentum in the small-cap sector.
In addition, the homebuilder ETF saw a fourth winning session out of the last five, indicating positive sentiment in the housing market.
Stocks opened higher on Tuesday, with the Dow, S&P 500, and Nasdaq Composite all posting gains early in the session. Retail sales data also came in better than expected, further boosting investor confidence.
Morgan Stanley and Bank of America both reported earnings that beat expectations, with Morgan Stanley exceeding revenue forecasts and Bank of America posting strong financial results.
European markets, however, opened lower as investors assessed economic and political factors in the region. Despite this, Nvidia led the S&P 500 and Nasdaq Composite higher on Monday, showcasing the strength of the tech sector.
After the bell, Trump Media and Technology and FB Financial were among the stocks making significant moves in extended hours trading, with Trump Media experiencing a sharp decline and FB Financial posting a second-quarter earnings beat.
Overall, stock futures rose slightly, indicating a positive outlook for the market moving forward. With various sectors showing strength and positive economic data, investors are optimistic about the market’s performance in the coming days.
