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Wall Street ended higher on Tuesday, as investors watched moves by major tech companies and closely monitored developments surrounding U.S.-Iran negotiations. All three major indexes ended in positive territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) jumped 0.5%, or 228.91 points, to close at 51,307.79 points.
The S&P 500 added 0.1%, or 9.94 points, to end at 7,609.90 points. Tech and utility stocks were the biggest gainers.
The Information Technology Select Sector SPDR (XLK) gained 1.3%. The Utilities Select Sector SPDR (XLU) climbed 1.9%. Seven of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq gained less than 0.1%, or 7.09 points, to finish at 27,093.90 points.
The fear gauge, CBOE Volatility Index (VIX), was down 1.74% to 15.77. Advancers outnumbered decliners on the NYSE by a 1.52-to-1 ratio. On the Nasdaq, a 1.1-1 ratio favored declining issues. A total of 20.51 billion shares were traded on Tuesday, higher than the last 20-session average of 19.93 billion.
On the Nasdaq, there were 134 new highs and 96 new lows. On the S&P 500, there were 29 new 52-week highs and 17 new lows.
Major indexes extended their gains on Tuesday after hitting all-time closing highs in the earlier trading session. Tech and chip stocks once again drove the rally, with shares of Hewlett Packard Enterprise Company ((HPE - Free Report) ) surging 19.5% after the company posted robust earnings.
Hewlett Packard reported second-quarter fiscal 2026 earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.54 per share. The company also raised its full-year guidance and issued an impressive outlook for the ongoing quarter. Hewlett Packard has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
However, shares of Alphabet Inc. ((GOOGL - Free Report) ) fell 3.9% after the search engine giant announced that it would raise $80 billion from stock sales to raise funding for its AI buildout.
This weighed on the S&P 500, but chip stocks helped the index bounce back. Shares of Marvell Technology, Inc. ((MRVL - Free Report) ) surged 32.5% after Nvidia Corporation ((NVDA - Free Report) ) CEO Jensen Huang suggested that the chipmaker has the potential to grow into a trillion-dollar company.
Investors also closely monitored the latest U.S.-Iran developments. Iran on Monday said that it would stop all indirect peace negotiations with the United States and threatened to shut the Strait of Hormuz completely. Trump, in reply, said that he doesn’t care if negotiations with Iran are halted.
Iranian state media on Tuesday said that Tehran is studying a proposal from the United States to end the war, but hasn’t spoken to Washington for days.
No major economic data was released on Tuesday.
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Stock Market News for Jun 3, 2026
Wall Street ended higher on Tuesday, as investors watched moves by major tech companies and closely monitored developments surrounding U.S.-Iran negotiations. All three major indexes ended in positive territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) jumped 0.5%, or 228.91 points, to close at 51,307.79 points.
The S&P 500 added 0.1%, or 9.94 points, to end at 7,609.90 points. Tech and utility stocks were the biggest gainers.
The Information Technology Select Sector SPDR (XLK) gained 1.3%. The Utilities Select Sector SPDR (XLU) climbed 1.9%. Seven of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq gained less than 0.1%, or 7.09 points, to finish at 27,093.90 points.
The fear gauge, CBOE Volatility Index (VIX), was down 1.74% to 15.77. Advancers outnumbered decliners on the NYSE by a 1.52-to-1 ratio. On the Nasdaq, a 1.1-1 ratio favored declining issues. A total of 20.51 billion shares were traded on Tuesday, higher than the last 20-session average of 19.93 billion.
On the Nasdaq, there were 134 new highs and 96 new lows. On the S&P 500, there were 29 new 52-week highs and 17 new lows.
Investors Monitor U.S.-Iran Negotiations, Chip Stocks Rally
Major indexes extended their gains on Tuesday after hitting all-time closing highs in the earlier trading session. Tech and chip stocks once again drove the rally, with shares of Hewlett Packard Enterprise Company ((HPE - Free Report) ) surging 19.5% after the company posted robust earnings.
Hewlett Packard reported second-quarter fiscal 2026 earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.54 per share. The company also raised its full-year guidance and issued an impressive outlook for the ongoing quarter. Hewlett Packard has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
However, shares of Alphabet Inc. ((GOOGL - Free Report) ) fell 3.9% after the search engine giant announced that it would raise $80 billion from stock sales to raise funding for its AI buildout.
This weighed on the S&P 500, but chip stocks helped the index bounce back. Shares of Marvell Technology, Inc. ((MRVL - Free Report) ) surged 32.5% after Nvidia Corporation ((NVDA - Free Report) ) CEO Jensen Huang suggested that the chipmaker has the potential to grow into a trillion-dollar company.
Investors also closely monitored the latest U.S.-Iran developments. Iran on Monday said that it would stop all indirect peace negotiations with the United States and threatened to shut the Strait of Hormuz completely. Trump, in reply, said that he doesn’t care if negotiations with Iran are halted.
Iranian state media on Tuesday said that Tehran is studying a proposal from the United States to end the war, but hasn’t spoken to Washington for days.
No major economic data was released on Tuesday.