US close: Dow notches another record close, chip stocks weigh on Nasdaq

(Sharecast News) - Major indices delivered a mixed performance on Tuesday, with the Dow Jones building on its record close.

At the close, the Dow Jones Industrial Average was up 0.64% at 51,999.67, while the S&P 500 shed 0.57% to 7,511.35 and the Nasdaq Composite saw out the session 1.15% weaker at 26,376.34.

The Dow closed 328.64 points higher on Tuesday, extending record-setting gains recorded in the previous session.

Tuesday's moves came after Donald Trump announced that the US and Iran had reached an agreement to end the war in the Middle East. Pakistan's prime minister Shehbaz Sharif said both sides had declared an end to military operations, with a formal signing ceremony expected on Friday in Switzerland.

A senior US official said the memorandum of understanding had already been signed electronically on Sunday, while Trump also said the Strait of Hormuz would reopen on Friday and vicepresident JD Vance added the passageway would remain "tollfree" over the long term. Oil prices continued to head south on Tuesday, with West Texas Intermediate down 5.82% at $76.05 a barrel, and international benchmark Brent crude dropping 4.7% to $79.26 a barrel.

On the macro front, US housing starts and building permits both softened in May, according to the Census Bureau, pointing to a cooler pace of homebuilding activity. Housing starts dropped 15.4% to an annual rate of 1.17m, well below April's revised 1.39m reading and down 8.7% year-on-year. Singlefamily starts slipped to 882,000, while construction of larger multiunit buildings fell to 284,000.

Building permits, a forwardlooking indicator, also eased, dipping 0.7% to 1.41m, with overall authorisations slightly below last year's level, though singlefamily permits edged up to 886,000. Permits for buildings with five units or more came in at 474,000, suggesting continued caution among developers despite pockets of resilience in the singlefamily segment. Housing completions also weakened in May, falling 8.1% to an annual rate of 1.31m, down from April's revised 1.42m print and 14.2% lower than at the same time a year earlier, underscoring the broader slowdown across the homebuilding sector.

In the corporate space, chip stocks dragged on the techheavy Nasdaq, with AMD sliding more than 7%, Broadcom down 4%, Micron off 6% and Nvidia losing over 2%. SpaceX continued to stand out, jumping nearly 5% and extending its sharp gains since last week's IPO.

After the close, LaZBoy posted stronger margins and earnings in the fourth quarter despite broadly flat sales, helped by doubledigit growth in its retail segment.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

JP Morgan Chase & Co. (JPM) $331.14 3.68%

Visa Inc. (V) $333.12 2.87%

Home Depot Inc. (HD) $337.09 2.20%

3M Co. (MMM) $161.63 2.15%

American Express Co. (AXP) $340.74 1.60%

Apple Inc. (AAPL) $299.24 1.52%

Procter & Gamble Co. (PG) $152.49 1.35%

Goldman Sachs Group Inc. (GS) $1,090.67 1.35%

Caterpillar Inc. (CAT) $945.46 1.23%

International Business Machines Corporation (CDI) (IBM) $270.81 0.78%

Dow Jones - Fallers

Intel Corp. (INTC) $117.05 -10.08%

Salesforce.Com Inc. (CRM) $161.71 -1.73%

Amgen Inc. (AMGN) $347.84 -1.28%

Cisco Systems Inc. (CSCO) $119.57 -0.88%

Unitedhealth Group Inc. (UNH) $407.65 -0.82%

Dow Chemical Co. (DOW) $32.96 -0.81%

Coca-Cola Co. (KO) $80.28 -0.78%

Verizon Communications Inc. (VZ) $46.73 -0.72%

Microsoft Corp. (MSFT) $393.83 -0.67%

Boeing Co. (BA) $227.49 -0.64%

S&P 500 - Risers

Bath & Body Works, Inc. (BBWI) $21.07 8.27%

Take-Two Interactive Software Inc. (TTWO) $229.97 6.65%

Western Digital Corp. (WDC) $681.08 5.04%

Expedia Group Inc. (EXPE) $243.56 4.83%

Dxc Technology Company (DXC) $9.23 4.77%

JP Morgan Chase & Co. (JPM) $331.14 3.68%

Moody's Corp. (MCO) $468.41 3.16%

Capital One Financial Corp. (COF) $200.62 3.08%

Digital Realty Trust (DLR) $190.45 3.00%

Charles Schwab Corp. (SCHW) $93.67 2.99%

S&P 500 - Fallers

Intel Corp. (INTC) $117.05 -10.08%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

KLA-Tencor Corp. (KLAC) $237.33 -8.51%

Advanced Micro Devices Inc. (AMD) $507.29 -7.40%

Skyworks Solutions Inc. (SWKS) $71.42 -6.57%

Wynn Resorts Ltd. (WYNN) $103.67 -5.69%

Corning Inc. (GLW) $177.42 -5.57%

Macerich Co (MAC) $23.75 -5.34%

Microchip Technology Inc. (MCHP) $95.63 -4.82%

QUALCOMM Inc. (QCOM) $214.07 -4.78%

Nasdaq 100 - Risers

Take-Two Interactive Software Inc. (TTWO) $229.97 6.65%

Western Digital Corp. (WDC) $681.08 5.04%

Expedia Group Inc. (EXPE) $243.56 4.83%

Gilead Sciences Inc. (GILD) $127.23 2.85%

Mercadolibre Inc. (MELI) $1,674.08 2.45%

Vertex Pharmaceuticals Inc. (VRTX) $453.17 2.39%

Paypal Holdings Inc (PYPL) $43.65 2.32%

Seagate Technology Plc (STX) $1,031.34 1.95%

Meta Platforms Inc. (META) $600.21 1.68%

Illumina Inc. (ILMN) $164.28 1.66%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Intel Corp. (INTC) $117.05 -10.08%

KLA-Tencor Corp. (KLAC) $237.33 -8.51%

Skyworks Solutions Inc. (SWKS) $71.42 -6.57%

Wynn Resorts Ltd. (WYNN) $103.67 -5.69%

Microchip Technology Inc. (MCHP) $95.63 -4.82%

QUALCOMM Inc. (QCOM) $214.07 -4.78%

Lam Research Corp. (LRCX) $369.34 -4.76%

NetEase Inc. Ads (NTES) $121.81 -4.68%

Baidu Inc. (BIDU) $112.72 -4.36%