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The Dow Jones Industrial Average advanced to new highs on Tuesday, as the market rally continued broadening out beyond big technology names.
The 30-stock index vaulted 535.37 points, or 1.3%, to 40,747.29.
The S&P 500 index picked up 10.05 points to 5,641.27.
The NASDAQ faded 53.58 points to 18,418.99.
Bank of America hiked 3% and Morgan Stanley jumped more than 1%, after earnings came in ahead of analyst forecasts. They’re the latest household names to post quarterly financial results as the new reporting season kicks into gear.
Nvidia slid around 2%, while Tesla dropped more than 1%.
Retail sales data also came in better than anticipated, which could ease concerns that the consumer was buckling. June sales were unchanged, while economists polled by Dow Jones predicted a decline of 0.4%. Excluding autos, sales rose 0.4%, a larger gain than the 0.1% consensus forecast.
Prices for the 10-year Treasury strengthened, lowering yields to 4.20% from Monday’s 4.23%. Treasury prices and yields move in opposite directions.
Oil prices dipped $1.31 at $80.60 U.S. a barrel.
Gold prices gained $19.40 to $2,448.30
