US stock exchanges gained ground on Tuesday. By the close of trading in New York, the Dow Jones Industrial Average was calculated at 52,508 points, a figure higher than on the previous trading day. A broader measure, the S&P 500, was up 0.4 percent at approximately 7,545 points, while the technology-focused Nasdaq 100 reached about 29,585 points, marking an increase of 1.1 percent.
Shares of Goldman Sachs saw a near nine percent jump, benefiting from positive business figures, whereas IBM stock fell by over 25 percent following unexpectedly weak quarterly results.
The most recent inflation data provided relief to Wall Street, as the rate of price increases surprisingly slowed from 4.2 percent to 3.5 percent in June. However, potential future inflation hikes remain a threat due to the escalating Iranian war. This geopolitical tension led President Donald Trump to quickly retract his proposal for a levy on goods passing through the Strait of Hormuz after just one day.
On the currency markets, the Euro strengthened on Tuesday evening, trading at 1.1422 US dollars, while the dollar was priced at 0.8755 euros.
Gold prices also saw a significant rise, reaching $4,056 per troy ounce in the evening, marking a 1.4 percent increase, which translates to 114.17 euros per gram.
Meanwhile, oil prices climbed sharply. The Brent crude oil futures were priced at $85.18 per barrel around 10 PM German time on Tuesday, a 2.3 percent increase from the previous day’s closing price.
