U.S. stocks traded mixed on Tuesday, with the Nasdaq Composite climbing 0.51% to 27,259.09, while the Dow Jones Industrial Average fell 0.31% to 51,889.27 and the S&P 500 rose 0.10% to 7,772.79.

Thor Industries leads headlines after Q4 results

Shares of Thor Industries rose around 5% on Tuesday after the company reported its fourth-quarter results. The company posted quarterly earnings of 78 cents per share, missing the analyst consensus estimate of 96 cents per share. Quarterly sales of $2.312 billion beat the analyst consensus estimate of $2.168 billion.

Sector performance

Communication services shares led gains, rising 1.2% on Tuesday. Financial stocks were the laggard, falling 2%.

Equities on the move

Several stocks saw sharp moves on Tuesday. The following companies recorded notable gains:

On the downside, several stocks declined sharply:

Commodities

Oil fell 1.4% to $94.45, while gold traded down 0.3% at $4,369.80. Silver declined 0.1% to $66.345, while copper rose 1.4% to $6.8595.

Global markets

European shares closed higher. The eurozone's STOXX 600 climbed 0.4%; Spain's IBEX 35 Index rose 0.7%; Germany's DAX gained 0.2%; France's CAC 40 rose 0.4%; and London's FTSE 100 slipped 0.1%.

Asian markets closed mixed on Tuesday. Hong Kong's Hang Seng index rose 0.18%, China's Shanghai Composite gained 0.06%, and India's BSE Sensex fell 0.44%.

Economic data

• The U.S. Redbook Index rose 7.6% year-over-year in the week ending Sept. 19.
• The Federal Reserve's Fifth District manufacturing index declined to -2 in September, compared to 4 in the previous month, versus market estimates of 5.

The Nasdaq Composite closed at a record high on Monday, surging 2.26% to 27,122.09 points. A fourth consecutive decline in crude oil prices relieved pressure on Treasury yields, boosting investor sentiment despite broader market caution.

Tech stocks drive gains

Technology and communication services sectors led the rally, bucking the mixed weekly performance of major indices. The Dow Jones Industrial Average fell 1.7% for the week, and the S&P 500 declined 0.1%, while the tech-heavy Nasdaq recorded a weekly gain of 0.7%. On Monday, the Dow rose 366 points to 52,048.83, and the S&P 500 gained 1.49% to 7,764.70.

Individual tech stocks saw significant movement:

• Intel Corp. (NASDAQ: INTC) jumped 12%
• Advanced Micro Devices (NASDAQ: AMD) added around 10%
• Meta Platforms Inc. (NASDAQ: META) surged 11% following positive early responses to its Muse AI agent

Economic data and sector performance

Most S&P 500 sectors closed higher, with information technology and consumer discretionary posting the biggest gains. Energy and utilities stocks declined, reflecting the drop in oil prices. On the economic front, the Chicago Fed National Activity Index fell to -0.04 in August from a revised +0.08 in the previous month, indicating a slight cooling in economic activity.

Sentiment remains cautious

Despite the record close on the Nasdaq, overall market sentiment remains subdued. The CNN Business Fear & Greed Index improved slightly to 34 from a prior reading of 30, but remained in the "Fear" zone. The index, which ranges from 0 (maximum fear) to 100 (maximum greed), is calculated based on seven equal-weighted indicators.

What the numbers show

A divergence exists between asset class performance and sentiment indicators. While the Nasdaq achieved a record high driven by specific tech rallies and easing macro pressures (oil/yields), the Fear & Greed Index at 34 suggests investors remain hesitant about broader market sustainability. This indicates that recent gains are concentrated in specific sectors rather than reflecting widespread bullish confidence across all market participants.

Investors are now awaiting earnings results from AutoZone Inc., Thor Industries Inc., and KB Home.