Source: Sharecast
At the close, the Dow Jones Industrial Average was up 1.19% at 43,089.02, while the S&P 500 advanced 1.11% to 6,092.18 and the Nasdaq Composite saw out the session 1.43% firmer at 19,912.53.
The Dow closed 507.24 points higher on Tuesday, extending gains recorded in the previous session as investors shrugged off concerns about America's bombing of Iran.
The Middle East conflict was in focus again on Tuesday after Israel, which launched strikes against Iran 12 days ago, said it had achieved its primary objectives, removing "dual immediate existential threat from itself" both in the nuclear and ballistic missile fields.
However, air raid sirens were reported to have sounded in northern Israel just hours after Donald Trump claimed a ceasefire agreement had been struck. Media reports indicated that two missiles had been intercepted, and although Iran denied launching them, Israeli defence minister Israel Katz ordered immediate retaliation on Tehran.
"I have instructed the IDF to respond forcefully to Iran's violation of the ceasefire with powerful strikes against regime targets in the heart of Tehran," said Katz.
Iran, which fired missiles at a US airbase in Qatar in what has generally been seen as a symbolic reprisal, also accused Israel of violating the agreement, with Israeli forces saying a radar system close to Tehran was attacked. Trump declared that he was "unhappy" with both parties about the renewed conflict.
Oil prices seemed unfazed by the uneasiness of the ceasefire, with benchmark Brent crude prices dropping 5.12% to $67.82 per barrel, while West Texas Intermediate slumped 6.04% to $64.37 per barrel.
Tuesday's other main focus was testimony from Federal Reserve chairman Jerome Powell before the House Financial Services Committee, where he indicated that the central bank was in no rush to cut interest rates and that it would wait to see how Trump's so-called "reciprocal" tariffs impact the US economy. Powell will testify before the Senate Banking Committee on Wednesday.
On the macro front, the Chicago Federal Reserve's national activity index fell to -0.25 in April, down from a revised +0.3 reading in March, as three of the four major categories weighed on overall activity. Production-related indicators contributed -0.18 in April, while the sales, orders, and inventories category came in at -0.04, as did the personal consumption and housing category. Employment-related indicators, on the other hand, were neutral in April, improving from a -0.05 contribution in March.
On another note, the US housing price index decreased to 434.90 in April, according to the Federal Housing Finance Agency, down from March's reading of 436.70.
Elsewhere, consumer confidence unexpectedly deteriorated in June, according to the Conference Board, dropping 5.4 points to 93.0, erasing nearly half of May's sharp gain. Economists had expected to see the consumer confidence index increase to 100.0.
Finally, the Richmond Federal Reserve's manufacturing index improved by two points to -7 in June, in line with market expectations.
No major corporate earnings were released on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $22.55 5.74%
Microsoft Corp. (MSFT) $490.11 3.04%
Salesforce.Com Inc. (CRM) $271.17 2.95%
American Express Co. (AXP) $308.38 2.92%
Dow Chemical Co. (DOW) $27.53 2.46%
Goldman Sachs Group Inc. (GS) $662.11 2.35%
Visa Inc. (V) $351.63 2.29%
Caterpillar Inc. (CAT) $373.02 1.85%
Unitedhealth Group Inc. (UNH) $305.62 1.64%
International Business Machines Corporation (CDI) (IBM) $293.79 1.59%
Dow Jones - Fallers
Amgen Inc. (AMGN) $277.49 -3.86%
Chevron Corp. (CVX) $143.55 -2.25%
Apple Inc. (AAPL) $200.30 -0.60%
Travelers Company Inc. (TRV) $266.14 -0.55%
Procter & Gamble Co. (PG) $160.36 -0.42%
Boeing Co. (BA) $200.94 -0.18%
Dowdupont Inc. (DWDP) $0.00 0.00%
Walmart Inc. (WMT) $98.00 0.13%
Merck & Co. Inc. (MRK) $80.32 0.20%
Walgreens Boots Alliance, Inc. (WBA) $11.35 0.53%
S&P 500 - Risers
Nektar Therapeutics (NKTR) $24.45 190.73%
American Airlines Group (AAL) $11.37 9.06%
United Airlines Holdings Inc (UAL) $79.02 8.31%
Carnival Corp. (CCL) $25.70 6.91%
Applied Materials Inc. (AMAT) $180.18 5.91%
Intel Corp. (INTC) $22.55 5.74%
Hasbro Inc (HAS) $72.58 5.74%
Broadcom Inc. (AVGO) $263.77 5.25%
Advanced Micro Devices Inc. (AMD) $138.43 5.00%
Western Digital Corp. (WDC) $62.07 4.98%
S&P 500 - Fallers
Brighthouse Financial, Inc. (BHF) $53.85 -8.51%
Apache Corp. (APA) $18.18 -7.67%
Advance Auto Parts (AAP) $48.26 -7.07%
Diamondback Energy Inc. (FANG) $139.35 -6.72%
eBay Inc. (EBAY) $74.35 -3.88%
Amgen Inc. (AMGN) $277.49 -3.86%
AutoZone Inc. (AZO) $3,577.54 -3.56%
Occidental Petroleum Corp. (OXY) $42.48 -3.34%
Northrop Grumman Corp. (NOC) $484.00 -3.14%
Exxon Mobil Corp. (XOM) $108.34 -3.04%
Nasdaq 100 - Risers
American Airlines Group (AAL) $11.37 9.06%
Asml Holdings N.V. (ASML) $813.36 6.53%
Applied Materials Inc. (AMAT) $180.18 5.91%
Intel Corp. (INTC) $22.55 5.74%
Hasbro Inc (HAS) $72.58 5.74%
Mercadolibre Inc. (MELI) $2,528.95 5.28%
Broadcom Inc. (AVGO) $263.77 5.25%
Western Digital Corp. (WDC) $62.07 4.98%
Trip.com Group Limited (TCOM) $58.91 4.88%
Lam Research Corp. (LRCX) $95.63 4.78%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $2.72 -12.38%
eBay Inc. (EBAY) $74.35 -3.88%
Amgen Inc. (AMGN) $277.49 -3.86%
Biomarin Pharmaceutical Inc. (BMRN) $54.66 -1.69%
Starbucks Corp. (SBUX) $91.50 -1.45%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $464.49 -1.41%
Gilead Sciences Inc. (GILD) $107.20 -1.24%
O'Reilly Automotive Inc. (ORLY) $89.18 -0.91%
Apple Inc. (AAPL) $200.30 -0.60%
Intuit Inc. (INTU) $759.03 -0.16%