US stock market moved higher on Tuesday, with technology and semiconductor shares recovering from Monday’s decline. Falling Treasury yields and cheaper oil also supported the major indexes.
By late morning, the S&P 500 gained about 0.2%, while the Nasdaq Composite rose 0.5%. The Dow Jones Industrial Average added about 58 points, or 0.1%.
The move reversed part of Monday’s technology-led decline, when the S&P fell 0.28% and Nasdaq lost 0.76%, while the Dow gained 0.26% instead.
Nvidia rose 2.3% before its quarterly report, due after Wednesday’s closing bell. The stock had fallen for seven straight sessions through Monday, its longest losing run since 2022. Investors will examine revenue guidance, profit margins, chip demand and spending plans from major cloud companies.
Options prices imply a 5.4% move in Nvidia shares following the report. That equals roughly $280 billion in market value. The expected move sits below Nvidia’s 7.4% average earnings-day swing over the previous 12 quarters. Nvidia has gained 11.7% during 2026, close to the S&P 500’s 11.8% rise.
Other chip stocks also recovered. Micron and Advanced Micro Devices gained about 3%, while Intel added more than 2%. Western Digital rose more than 3%, and the iShares Semiconductor ETF advanced over 2%. Raymond James upgraded AMD, adding support to the stock.
The 10-year Treasury yield fell to about 4.66%, extending Monday’s decline. The rate had climbed near 4.74% during the recent bond selloff. Reports that the Treasury could use its nearly $1 trillion General Account for bond buybacks helped ease long-term yields.
Oil prices also fell sharply. West Texas Intermediate dropped more than 3% to about $82 per barrel. Brent crude traded near $89. Traders viewed the latest US sanctions against Iran as less disruptive to oil supply than military action. Still, shipping risks near the Strait of Hormuz continued.
Lower yields reduced pressure on highly valued technology shares. Lower oil prices also limited near-term concern over energy-driven inflation. Meanwhile, the US dollar index slipped 0.1%, and gold futures traded near $4,685 an ounce.
The Conference Board’s Consumer Confidence Index fell to 89.4 in August from 90.2 in July. The reading marked a seven-month low. The Present Situation Index rose 6.8 points to 121.2, but the Expectations Index dropped 5.8 points to 68.2.
Dana Peterson, the group’s chief economist, said, “Consumer confidence moderated slightly in August for a second consecutive month.” Consumers reported more concern about prices, oil, gas, conflict, food, trade and jobs.
Separate government data showed new-home sales fell 10.5% in July to an annual rate of 607,000. The supply of new homes rose to 9.6 months. The median sale price declined 2.3% from June to $393,800.
Investors will now watch Wednesday’s July Personal Consumption Expenditures report. The PCE index serves as the Federal Reserve’s preferred inflation measure. Markets price one 25-basis-point rate increase by year-end, according to LSEG data. Fed Chair Kevin Warsh will speak Friday at Jackson Hole.
Dick’s Sporting Goods shares fell more than 20% after the retailer cut its annual forecasts. Quarterly net sales reached $5.59 billion, below the $5.65 billion estimate. Adjusted earnings of $3.53 per share also missed the $3.76 estimate.
The company lowered its annual adjusted earnings forecast to $11 to $12 per share. Its prior range stood at $13.50 to $14.50. Dick’s now expects annual sales between $21.9 billion and $22.2 billion.
The retailer cited excess inventory, heavy discounting and weak demand for older footwear lines at Foot Locker. Executive Chairman Ed Stack said, “There were fewer launches in the second quarter.” Nike shares fell more than 3% following the report.
Market breadth stayed positive despite the retail losses. Advancing shares outnumbered declining stocks on both the New York Stock Exchange and Nasdaq during early trading.
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