U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Tuesday. The index rose 0.49% to 25,998.70, while the Dow traded up 0.18% to 52,590.84 and the S&P 500 gained 0.26% to 7,534.77. The positive market open was accompanied by better-than-expected earnings results from major financial institutions.

Market Performance

The following table summarizes the performance of major indices at the market open:

Sector Performance

Sector performance was mixed during the session. Materials shares jumped by 1.5%, leading the gains. Conversely, health care stocks fell by 1.4%, acting as a drag on the broader market.

Bank of America Earnings

Bank of America reported better-than-expected earnings for the second quarter on Tuesday. The company posted quarterly earnings of $1.21 per share, which beat the analyst consensus estimate of $1.13 per share. Quarterly sales came in at $31.558 billion, surpassing the analyst consensus estimate of $30.746 billion.

Commodities and Global Markets

In commodity news, oil traded up 2.2% to $79.84, while gold traded up 0.8% at $4,036.30. Silver rose 2.8% to $59.605, and copper increased 2.1% to $6.4135.

European shares were lower, with the STOXX 600 declining 0.5%. Asian markets closed mostly higher, with Japan’s Nikkei 225 gaining 0.74% and China’s Shanghai Composite surging 1.36%.

The Nasdaq Composite unofficially closed down 391.99 points, or 1.49%, at 25,889.62, extending its recent losing streak. The index had already faced sustained pressure through the session, having opened down 194.65 points, or 0.74%, at 26,086.96 — a sharp deterioration from an earlier 30.50-point, or 0.12%, drop to 26,176.40 recorded at the prior open. Investor sentiment continues to reflect caution, with the CNN Money Fear and Greed Index holding at a reading of 43.50, down slightly from a prior reading of 44.

Session Performance Overview

The table below captures the Nasdaq Composite's movement across Tuesday's session through the latest unofficial close:

Broader Market Context

Tuesday's session saw the technology-heavy index weighed down by declines in the semiconductor sector. Most sectors on the S&P 500 closed Tuesday on a positive note, with health care, real estate, and energy stocks recording the biggest gains. However, information technology and industrials stocks bucked the overall market trend, closing the session lower. The Dow Jones Industrial Average closed lower by around 131 points to 52,925.15, while the S&P 500 fell 0.45% to 7,503.85.

Corporate Movers and Economy

On the corporate front, Crinetics Pharmaceuticals Inc. shares jumped approximately 99% after the company announced it will be acquired by Vertex Pharmaceuticals. Conversely, Rivian Automotive Inc. shares dipped 18% following an announcement of an offering of 75 million shares. On the economic data front, the U.S. trade deficit rose to $77.6 billion in May, compared to a revised $54.6 billion gap in April, with market estimates having anticipated a $78.5 billion shortfall. The latest gap was the largest since March 2025, driven by a 3.3% rise in imports to $395.3 billion. Investors were also awaiting earnings results from Helen of Troy Ltd., PriceSmart Inc., and Levi Strauss & Co.