Wall Street gains as AI, earnings momentum outweigh Middle East angst
Wall Street's main indexes rose on Tuesday as optimism around artificial intelligence and strong corporate earnings offset concerns over the Middle East conflict. The S&P 500 gained 0.17% as Amazon's investment in Anthropic and UnitedHealth's earnings boost helped drive the market higher.
Wall Street's main indexes inched higher on Tuesday as renewed artificial intelligence optimism and strong corporate earnings bolstered markets. J.P. Morgan raised its year-end target for the S&P 500, citing AI and tech-driven earnings, while Amazon said it will invest up to $25 billion in Anthropic. Amazon shares rose 2%, helping the S&P 500 consumer discretionary sector jump nearly 1%. The Dow Jones Industrial Average rose 309.83 points to 49,752.39, the S&P 500 gained 12.30 points to 7,121.44, and the Nasdaq Composite gained 34.10 points to 24,438.49. Strong earnings reports, with 87.5% of S&P 500 companies beating analysts' estimates, overpowered the narrative around the Middle East conflict. UnitedHealth jumped 9.2% after raising its annual profit forecast, while GE Aerospace fell 3.1% due to concerns over oil prices and global growth.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.