U.S. stocks advanced on Tuesday. The Dow closed at 46,993 points, up 0.1 percent, while the broader S&P 500 finished at 6,716 points, rising 0.3 percent. The technology-focused Nasdaq posted the strongest gain, increasing 0.5 percent to 24,780 points.
Investors were not deterred by the continued climb in oil prices, which some appear to see as a sign of a quick end to the Iran conflict. North Sea Brent crude, priced at $103.70 per barrel at 9 p.m. German time, was 3.5 percent higher than the close the day before. An extended closure of the Straits of Hormuz would push oil prices even higher, potentially leading to inflation and subsequent interest‑rate hikes.
In contrast, airline shares saw a boost as passenger bookings grow-travelers seem to be purchasing tickets pre‑emptively in light of rising fuel costs and the resulting fare increases. The Dow Jones U.S. Airlines Index jumped about 4 percent on the day.
Gold slipped slightly, falling below the psychologically significant $5,000 per ounce mark. By evening, a fine troy ounce of gold sold for $4,999, a decrease of 0.1 percent, translating to €139.35 per gram.
The euro strengthened against the dollar on Tuesday evening, exchanging at $1.1534 per euro, which means one U.S. dollar was worth €0.8670.
