Another stab at green: Tech pushes US stock indexes higher
SPY•Tech leads US stocks higher
Wall Street is taking another stab at a rally on Tuesday, hoping this time it will stick instead of sinking into the red by the closing bell (looking at you, Monday).
A solid tech .SPLRCT rebound, led by a more than 3% jump in chip stocks .SOX, is putting the Nasdaq .IXIC on top, while the S&P 500 .SPX and the Dow's .DJI gains are more modest.
Energy .SPNY is another major S&P sector showing gains, aided by a 2.5% rise in crude prices after the U.S. and Iran ramped up their airstrikes against each other, stoking fears that the conflict is spreading and escalating.
Underperformers include housing .HGX, homebuilding .SPCOMHOME, retail .SPXRT and consumer staples .SPLRCS.
Earnings season and early market snapshot
Second-quarter earnings season has hit full stride, with a slew of industrials stepping up to the plate.
Companies that reported this morning include Hasbro HAS.O, GM GM.N and 3M MMM.N, all of which beat earnings estimates and hiked their full-year forecasts. Their shares were up between 4.8% and 12.6%.
Here's where things stood at 9:54 a.m. ET:
(Stephen Culp)
