U.S. markets ended higher on Tuesday led by a rebound in semiconductor equities and a wave of upbeat corporate earnings updates lifted market sentiment. Traders continued to monitor the escalating conflict between the US and Iran after US Central Command carried out its 10th consecutive night of strikes on Iran, while Tehran reportedly targeted US military assets in the Middle East. Meanwhile, reports suggested mediators are working towards a 10-day ceasefire proposal, offering hopes of renewed diplomatic engagement. On the sectoral front, computer hardware stocks turned in some of the tech sector's best performances, with the NYSE Arca Computer Hardware Index soaring by 5.9 percent. Substantial strength was also visible among semiconductor stocks, as reflected by the 5.2 percent leap by the Philadelphia Semiconductor Index. Outside of the tech sector, gold stocks moved sharply higher along with the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 5.2 percent. Brokerage, steel oil producer and pharmaceutical stocks also saw significant strength, while software stocks showed a notable move to the downside.
Nasdaq rose 329.13 points or 1.29 percent to 25,837.20, S&P 500 added 65.92 points or 0.89 percent to 7,509.2 and Dow Jones Industrial Average increased 385.38 points or 0.74 percent to 52,224.64.
