US Stock Markets Today: S&P 500 Rebounds As Oil Price Softens
The US stock market edged higher on Tuesday, following a 1% decline in the benchmark indices in the preceding session. The S&P 500 rebounded with gains of over 0.5% in the first hour of trading as oil prices sharply retracted from Monday’s highs.
The Dow Jones Industrial Average gained 0.16% or 68.4 points to open at 42,022.65, whereas the tech-heavy Nasdaq Composite rose 0.52%, or 94 points, to open at 18,017.92.
The S&P 500 stood at 5,719.14 at the opening bell, gaining by 23.2 points or 0.41%. In the early minutes of trading, nine of the 11 sectoral indices were trading in green, with information technology and consumer discretionary leading the surge. Energy and materials were the only two indices edging lower.
Among major companies, Nvidia, Apple, Airbnb and Netflix logged sharp gains, whereas Chevron, Intel and Qualcomm slipped in early trade.