Dow Jones rises as strong United States earnings support stocks

The Dow Jones and S&P 500 ended Tuesday higher, while the Nasdaq slipped slightly. Corporate earnings supported the market despite weakness in technology stocks.

The Dow Jones Industrial Average gained 1.02% to close at 52,495.88 points, Interfax reported. Investors shifted attention from companies making large AI investments towards other industries.

Equifax and Hasbro were among the S&P 500’s strongest performers, gaining 11.3% and 11.2% respectively after results beat market expectations. Healthcare shares, including Moderna, Bristol Myers Squibb and Eli Lilly, also advanced.

Nvidia and Microsoft each lost 0.3%, Apple and Micron each declined 1%, and Alphabet fell 1.1%. Plante Moran Financial Advisors chief investment officer Jim Baird said investors remained sceptical about companies’ ability to monetise large AI investments.

Tradeweb Markets rose 4.1% after announcing a $1.97 billion purchase of Trumid Holdings. Prudential Financial gained 1.4% following news it would sell operations in Brazil and Mexico for $4 billion.

General Motors was the S&P 500’s biggest decliner, losing 6.8%. Despite strong quarterly results, the automaker warned about rising raw-material costs and weaker truck demand.