The Dow rallied 537 points for its third-straight triple-digit win on Tuesday, marking its best single-day percentage gain since July 2. Strong post-earnings moves from Sherwin-Williams (SHW) and Coca-Cola (KO) helped lift the blue-chip index, while the S&P 500 also notched a modest gain.
The Nasdaq, on the other hand, suffered its fifth consecutive loss amid continued chip weakness, though software stocks helped pare losses. In other tech news, Apple (AAPL) briefly topped a $5 trillion market cap for the first time ever ahead of this week's earnings report, becoming just the second company after Nvidia (NVDA) to reach the milestone.
Oil Back Below $80
Oil prices fell back below $80, logging a third-straight loss as the U.S. and Iran continued to pause fighting, while the latter held discussions with Saudi Arabia and Oman regarding the Strait of Hormuz. September-dated West Texas Intermediate (WTI) crude slid 4% to settle at $79.26 a barrel.
Gold prices fell amid strength in the U.S. dollar. August-dated gold futures slipped 0.9% to settle at $4,036.30 per ounce.
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