The blue-chip index gained 83.57 points to 42,208.22, to yet another record high.
The much-broader index recovered 14.36 points to 5,732.94.
The NASDAQ Composite sprang back up 100.25 points to 18,047.52.
Shares of artificial intelligence darling Nvidia climbed nearly 4% after a regulatory filing showed that CEO Jensen Huang wrapped up his sales of the chipmaker’s stock for the time being.
Despite Tuesday’s moves, the major averages were headed for solid monthly gains. The Dow was up 1.4% in September. The S&P 500 is up 1%, and NASDAQ has risen 1.2%. Some of those gains come as investors grow hopeful that lower rates from the Federal Reserve will drive economic growth and boost profits.
Visa dropped nearly 4% following a Bloomberg report that the Justice Department is preparing to file an antitrust lawsuit against the credit card network and payments processor.
Smartsheet shares surged more than 6% after Blackstone and Vista Equity Partners agreed to buy the software maker for $56.50 a share in cash, or about $8.4 billion. Unless another offer is made, the deal is expected to close by January 2025, pending shareholder approval.
Consumer confidence fell to the lowest level in more than three years for September, the Conference Board said on Tuesday. The Board’s Consumer Confidence Index pulled back to 98.7 for the month, down from 105.6 in August and below the 104 Dow Jones consensus estimate.
The data follows a warning from JPMorgan Chase CEO Jamie Dimon about geopolitical instability “getting worse” and being his “biggest caution.” Dimon added that the worrisome backdrop could influence “the state of the economy” moving forward.
Prices for the 10-year Treasury were higher, weighing yields to 3.73% from Monday’s 3.75%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.17 at $71.84 U.S. a barrel.
Gold prices skyrocketed $35.20 to $2,687.70 U.S. an ounce