Key facts
- The Dow Jones Industrial Average reached a new intraday record high on Tuesday.
- Falling oil prices and optimism over a U.S.-Iran peace deal contributed to market gains.
- SpaceX surpassed Amazon in market value after climbing almost 9.5%.
- Memory chip stocks like Western Digital and Seagate Technology saw significant increases.
- Financial shares led gains among S&P 500 sectors, with major banks like Goldman Sachs and JPMorgan rising.
- The energy sector declined as oil prices reached a near three-month low.
The Dow Jones Industrial Average reached a new intraday record high on Tuesday, driven by optimism surrounding a potential U.S.-Iran peace deal and a subsequent decline in oil prices. At 9:42 a.m. ET, the Dow was up 0.70% to 52,031.80, the S&P 500 gained 0.10% to 7,561.78, and the Nasdaq Composite rose 0.13% to 26,719.01. The market sentiment was bolstered by the previous session's rally, which followed President Donald Trump's announcement of a preliminary agreement to end the conflict. SpaceX also saw its shares climb nearly 9.5%, surpassing Amazon's market value. Memory chip stocks, including Western Digital and Seagate Technology, experienced gains, while financial shares led the broader market. However, the energy index dipped as oil prices fell to a near three-month low.