Wall Street’s main indexes traded higher on Tuesday, with healthcare stocks reaching a record high and easing oil prices supporting sentiment as investors assessed corporate earnings and lingering concerns over artificial intelligence spending.The Dow Jones Industrial Average rose 0.97% to 52,468.06, while the S&P 500 gained 0.42% to 7,723.06. The Nasdaq Composite edged up 0.22% to 26,489.60 as of 12.06 pm ET.Healthcare stocks were among the biggest gainers, with Eli Lilly rising 4.7 per cent to a record high. Amgen, Pfizer, Johnson & Johnson and AbbVie each advanced more than 2 per cent. Financial stocks also climbed 1.2 per cent, helping lift the broader market.Oil prices moved lower after an unsettled session in which Brent crude touched a five-month high. Brent futures fell 1.1 per cent as traders assessed reports of attacks on Saudi infrastructure by Yemen’s Houthis and vessel attacks in the Gulf. Lower crude prices offered some relief amid concerns over inflation and energy supply disruptions.The gains followed a rebound on Monday, when investors returned to technology stocks after last week’s sharp selloff. Concerns over the borrowing costs and debt exposure associated with the artificial intelligence boom have kept markets volatile. CoreWeave shares rose 2.5 per cent on Tuesday, while the Philadelphia Semiconductor Index advanced 0.7 per cent.Corporate earnings also drove individual stocks. Credit reporting firm Equifax surged 11.4 per cent after posting better-than-expected third-quarter profits, while toy maker Hasbro gained 5.6 per cent after raising its full-year revenue and digital gaming forecasts.Industrial conglomerate 3M rose 5 per cent after expanding its data-centre partnership with Amazon and increasing its annual profit outlook. General Motors dropped 6.9 per cent, however, after warning of pressure from higher commodity costs and weaker truck sales in the coming months. Steel Dynamics fell 1.4 per cent after missing quarterly profit estimates.Investors are looking to a busy earnings calendar for signs that corporate growth can withstand economic uncertainty and the high cost of financing technology investments. Netflix and SpaceX were scheduled to report results after Tuesday’s market close, followed by Meta Platforms and Tesla on Wednesday.In Asia, South Korean artificial intelligence infrastructure company Elice Group fell nearly 30% on its stock market debut, trading below its initial public offering price.Market breadth remained positive, with advancing stocks outnumbering decliners by 2.51 to 1 on the New York Stock Exchange and 2.78 to 1 on the Nasdaq. The S&P 500 recorded 21 new 52-week highs and one new low, while the Nasdaq Composite posted 32 new highs and 204 new lows.
