The 30-stock index gained 212.03 points to conclude Tuesday at 33,926.74.
The S&P 500 climbed 49.59 points, or 1.2%, to 4,378.41.
The NASDAQ index popped 219.90 points, or 1.7%, to 13,555.67.
Popular technology and artificial intelligence names such as Nvidia, Meta Platforms and Microsoft, rose on Tuesday, reversing Monday’s selloff and lifting the tech-heavy NASDAQ. Consumer discretionary and travel stocks also took flight as Delta Air Lines boosted its financial guidance. The airline stock surged 6.8%.
Despite Tuesday’s broad market rally, Walgreens shed 9.3% after slashing its full-year profit guidance and reporting weaker-than-expected earnings
Friday marks the end of the second quarter and first half of 2023. The NASDAQ has gained 10.9% since the start of April and 29.5% this year. It is on pace for its best first half in 40 years as investors scoop up technology stocks after 2022’s slump. The S&P is set to finish the quarter up 6.6%, and the Dow is on track to finish ahead 2%.
For June, the S&P and NASDAQ are on pace to close nearly 5% higher, while the Dow is poised for a monthly advance of 3.1%.
Wall Street also assessed a fresh batch of economic data. That included durable goods data that showed a surprise increase and consumer confidence data that improved more than expected in June.
Consumer confidence for the month rose to an index value of 109.7, up from 102.5 in May and better than the Dow Jones estimate for 104. That was the highest reading since January 2022.
New home sales rose more than expected in May despite stubbornly high mortgage rates, according to data Census Bureau data release Tuesday.
The data showed sales rising to a seasonally adjusted annual rate of 763,000, far exceeding the 675,000 estimate expected by economists polled by Dow Jones.
Prices for the 10-year Treasury tailed off, raising yields to 3.76% from Monday’s 3.71%. Treasury prices and yields move in opposite directions
Oil prices lost $1.66 to $67.71 U.S. a barrel.
Gold prices subtracted $10.30 to $1,923.50 U.S. an ounce.
Tech Leads Turnaround, Dow Slump Over