US stocks traded higher in early Tuesday trade, with technology shares leading the advance, as investors looked beyond the latest developments in the US-Iran conflict and shifted their focus to a busy corporate earnings week.
The Nasdaq Composite outperformed the broader market, rising 205.12 points, or 0.80%, to 25,713.19 in real-time trading. The index has traded between 20,560.17 and 27,190.21 over the past 52 weeks. The S&P 500 gained 37.66 points, or 0.51%, to 7,480.94, remaining close to its record highs. The benchmark index has moved within a 52-week range of 6,212.69 to 7,620.90.
The Dow Jones Industrial Average added 204.24 points, or 0.39%, to 52,043.50, extending gains after a positive start to the session. The blue-chip index has traded between 43,340.68 and 53,289.30 during the past year.
ALSO READ: Chip Stocks Regain Spark: Nasdaq Spikes As AMD, SK Hynix, Micron, Intel Rally Up To 9%
The gains followed a firm pre-market session, when Dow futures rose about 129 points, or 0.3%, while S&P 500 futures advanced 0.4% and Nasdaq-100 futures climbed 1.4%, supported by strength in semiconductor stocks and upbeat earnings expectations.
Chipmakers led the rally after the VanEck Semiconductor ETF (SMH) rose more than 3% in pre-market trading. Marvell Technology, Micron Technology and Astera Labs each surged around 6%, while Intel gained more than 5%.
Wall Street continued to monitor the escalating conflict between the US and Iran after US Central Command carried out its 10th consecutive night of strikes on Iran, while Tehran reportedly targeted US military assets in the Middle East. Meanwhile, reports suggested mediators are working towards a 10-day ceasefire proposal, offering hopes of renewed diplomatic engagement.
ALSO READ: Tesla Faces Critical Test On Wall Street As AI Cash Burn Weighs On Investors
Oil prices remained volatile amid the developments. West Texas Intermediate crude traded above $85 a barrel, while Brent crude hovered above $91, with both benchmarks gaining about 2% as traders assessed geopolitical risks and ceasefire negotiations.
Monday's session had ended lower after US President Donald Trump warned in a Truth Social post that Tehran would pay for the deaths of three US service members, sending energy prices higher and weighing on broader market sentiment.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.