A new high record for the S&P 500; Nasdaq rallies; Dow declines.
Dow Jones and broader U.S. stock markets ended mostly higher Tuesday, with the S&P500 Index rising to record levels.
The Dow Jones Industrial Average (DIA) fell 65.96 points at the close to 33,679.44, as the major indices on Wall Street fell mixed at the close.
Several of the 11 primary sectors rallied, with consumer discretionary companies and utilities posting at least a 0.9% gain. Sectors including information technology, consumer goods, and telecommunications all posted gains.
While the Nasdaq Composite Index rose 1.1% to settle at 13,996.10, it is focused on technology.
VXX, the CBOE’s measure of implied volatility, emerged slightly higher on Monday. An intraday low of 16.43 was reached on the scale of 1-100, with 20 representing the historical mean. Ultimately, it closed down 1.7% at 16.63.
In commodities, oil prices rose on Tuesday, with U.S. West Texas Intermediate futures gaining 71 cents, or 1.2%, to $60.41 a barrel on the New York Mercantile Exchange. Brent, the international futures contract, rose 63 cents or 1% to $63.91 a barrel.
Gold prices rallied on Tuesday, as the June contract gained $12.80, or 0.7%, to $1,744.62 a troy ounce on the Comex division of the New York Mercantile Exchange. Silver futures rose 53 cents, or 2.1%, to $25.40 a troy ounce.
Ending Point: U.S. equity markets are rallying on unprecedented fiscal and monetary support. Expectations for a broad economic rebound are also supporting equity valuations.