Wall Street set AI disruption fears aside on Tuesday, with the Dow tacking on more than 350 points following upbeat earnings out of Home Depot (HD) -- though it wasn't enough to fully erase yesterday's tech selloff. The Nasdaq added triple digits as well, as software and AI stocks bounced on news of an expanded partnership between Meta Platforms (META) and Advanced Micro Devices (AMD), while the S&P 500 settled firmly higher.
President Donald Trump will deliver his State of the Union address tonight. Per White House officials, he will announce a pledge from major tech companies to pay higher electricity price in places where they are building data centers.
Oil, Gold Prices Take a Breather
Oil prices settled lower on Tuesday, pulling back from seven-month highs after Iran indicated it would take any steps needed to reach an agreement with the U.S., as discussions continue. March-dated West Texas Intermediate (WTI) crude lost 49 cents, or 0.7%, to settle at $65.82 barrel.
Gold took a breather as well, as the U.S. dollar strengthened and investors took profits. U.S.-Iran talks and tariff rhetoric were also in focus. April-dated gold futures fell 0.9% to settle at $5,176.30 per ounce.
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