- US stocks rose on Tuesday as investors digested upbeat economic data and developments in Russia.
- Durable goods orders for May came in stronger than expected, easing concerns about a recession.
US stocks rallied on Tuesday as investors digested upbeat economic data and the latest developments in Russia after the Wagner Group's weekend mutiny.
Supported by transportation spending, durable goods orders for May came in stronger than expected, easing concerns about a recession.
Meanwhile, the S&P CoreLogic Case-Shiller report showed that home prices rose 0.5% in April.
In Russia, the Kremlin said the Wagner mercenary group is prepared to hand over its heavy weapons.
Here's where US indexes stood as the market opened 9:30 a.m. on Tuesday:
S&P 500: 4,341.21, up 0.29%
Dow Jones Industrial Average: 33,763.06, up 0.14% (48.35 points)
Nasdaq Composite: 13,396.68, up 0.46%
Here's what else is going on:
- Morgan Stanley said 34% of borrowers report they won't be able to make payments on their student loans.
- Billionaire Robert Smith plans to sell software marker Apptio to IBM for $4.6 billion.
- Markets should prepare for a broader AI rally that goes beyond the leading 8 stocks, Wedbush's Dan Ives said.
In commodities, bonds, and crypto:
- The West Texas Intermediate dipped by 1.06% to $68.63 a barrel. Brent crude, the international benchmark, dropped 1.1% to $73.36 a barrel.
- Gold moved down 0.33% to $1,925.80 per ounce.
- The 10-year yield edged down 2.5 basis points to 3.694%.
- Bitcoin ticked up 0.3% to $30,371.