US stock markets experienced gains on Tuesday. At the close in New York, the Dow closed at 49,298 points, marking an increase of 0.7 percent compared to the previous trading day. Earlier in the session, the broader S&P 500 was up 0.8 percent at approximately 7,259 points, while the technology sector tracked by the Nasdaq 100 recorded gains of 1.3 percent at around 28,015 points.
The uptick in the stock market was supported by a sense of relief regarding the US Navy successfully escorting commercial vessels through the Strait of Hormuz, meaning initial fears of escalating tensions were averted. Additionally, positive analyst forecasts regarding sustained high investments in “Artificial Intelligence” bolstered optimism for stronger future economic growth.
Meanwhile, currency and commodity markets showed varied movements. The Euro strengthened slightly on Tuesday evening, trading at 1.1697 US dollars, meaning the dollar was valued at 0.8549 Euros.
Gold prices also recovered, with a fine ounce reaching $4,555 in the evening, an increase of 0.7 percent. This equates to a price of 125.20 Euros per gram.
In contrast, oil prices dropped sharply. By late Tuesday evening, a barrel of Brent crude from the North Sea cost $110.30, representing a decrease of 3.6 percent (or 414 cents) compared to the previous trading day’s close.
