U.S. markets ended mostly higher on Tuesday, with both the Nasdaq and the S&P 500 closing near fresh record highs, supported by continued strength in technology stocks. Investors also remained hopeful that the U.S. and Iran could still reach an agreement despite renewed tensions in the Middle East. However, traders stayed cautious after a report from the Conference Board showed a modest decline in consumer confidence in May. The Conference Board said its consumer confidence index slipped to 93.1 in May from an upwardly revised 93.8 in April. Street had expected the index to ease to 92.0 from the previously reported 92.8 for the prior month.
On the sectoral front, semiconductor stocks posted strong gains, lifting the Philadelphia Semiconductor Index by 5.5 percent to a record closing high. Airline stocks also advanced sharply, with the NYSE Arca Airline Index surging 4 percent to its highest closing level in nearly three months. Gold, steel, and networking stocks also recorded notable strength, while energy stocks came under pressure following a steep decline in crude oil prices.
Nasdaq increased 312.21 points or 1.19 percent to 26,656.181, and S&P 500 gained 45.65 points or 0.61 percent to 7,519.12, while Dow Jones Industrial Average declined 118.02 points or 0.23 percent to 50,461.68.
