The S&P 500 increased on Tuesday amid falling Treasury yields for another day. Chip stocks also saw gains as traders anticipated Nvidia’s upcoming earnings report.
The broader index rose 0.4%, and the Nasdaq Composite gained 0.9%.
The Dow Jones Industrial Average inched up 14 points, or 0.03%.
The yield on the 10-year Treasury note decreased to 4.658%, continuing its decline from the previous day, amid reports that the Treasury Department might use its $1 trillion General Account to fund bond repurchases.
Investors showed increased interest in chip stocks ahead of Nvidia’s earnings announcement scheduled for Wednesday after the market closes.
Shares of Advanced Micro Devices and Micron Technology each climbed 3%, while Intel gained more than 2%.
Nvidia’s stock rose over 1%, and the iShares Semiconductor ETF (SOXX) increased more than 2%.
Source (CNBC)
