Dow Jones Extends Record Highs, Silver Hits $80: What's Moving Markets Tuesday?
Piero Cingari 9 months ago
EquitiesLarge CapMacro Economic EventsSector ETFsBroad U.S. Equity ETFsGlobalEcon #sTop StoriesEconomicsMarketsTechETFs
Wall Street rallied Tuesday as the Dow hit records, metals surged to fresh highs and chipmakers jumped, while energy stocks lagged on falling oil prices.
Wall Street has kicked off 2026 on a strong footing, with large-cap indexes heading toward a third straight session of gains on Tuesday.
By midday trading in New York, the Dow Jones Industrial Average rallied nearly 1%, extending record highs as investors rotated into cyclical and blue-chip stocks.
Silver broke above $80 an ounce, jumping more than 5% amid persistent supply shortages. Platinum surged 8.1% after Monday's sharp advance, while palladium gained 6.5%.
Gold climbed for a third consecutive session, up 0.9% to $4,490 an ounce. Copper added 1% to $6.07 per pound, setting new record highs.
Mining stocks followed bullion prices higher. The VanEck Gold Miners ETF (NYSE:GDX) and the Global X Silver Miners ETF (NYSE:SIL) both gained 3.7%.
Sandisk, Western Digital, Seagate
Memory chip stocks also stood out. Sandisk Corp. (NASDAQ:SNDK), Western Digital Corp. (NASDAQ:WDC) and Seagate Technology Holdings plc (NASDAQ:STX) jumped 24.6%, 15.8% and 12.4%, respectively, topping S&P 500 gainers. The rally was driven by expectations of rising memory prices amid a global supply crunch.
Shares of Albemarle Corp. (NYSE:ALB) rose 10.7% after Jefferies raised its price target, citing stronger long-term demand tied to energy storage and electric vehicles.
On the downside, Tesla Inc. (NASDAQ:TSLA) fell more than 4%, marking its eighth decline in nine sessions. Competitive pressure in the robotaxi market weighed on sentiment, alongside reports of market share losses in Europe against Chinese EV-maker BYD.
Energy stocks lagged as oil prices pulled back. West Texas Intermediate crude fell 1% to $57 a barrel after Wall Street banks warned that rising supply from Venezuela could pressure prices further.
The Energy Select Sector SPDR Fund (NYSE:XLE) dropped 2.1%, almost fully reversing Monday’s gains on the back of Maduro’s capture. Chevron Corp. (NYSE:CVX) slid nearly 4%, after rallying over 5% on Monday.
Tuesday's Performance In Major US Indices, ETFs
| Major Indices | Price | % Change |
|---|---|---|
| Nasdaq 100 | 25,623.04 | +0.9% |
| S&P 500 | 6,942.79 | +0.6% |
| Dow Jones | 49,441.37 | +0.9% |
| Russell 2000 | 2,554.05 | +0.2% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.5% to $635.34.
- The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) moved 0.9% higher to $493.63.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) gained 0.7% to $622.37.
- The iShares Russell 2000 ETF (NYSE:IWM) traded 0.3% up to $253.48.
- The Materials Select Sector SPDR Fund (NYSE:XLB) outperformed, up 2.0%; the Energy Select Sector SPDR Fund lagged, down 2.1%.
Russell 1000's Top 5 Gainers And Losers On Tuesday
| Stock Name | % Change |
|---|---|
| Sandisk Corp. | +24.57% |
| Western Digital Corp. | +15.76% |
| Allegro MicroSystems Inc. (NASDAQ:ALGM) | +12.50% |
| Albemarle Corp. (NYSE:ALB) | +10.70% |
| Fermi Inc. (NASDAQ:FERM) | +10.48% |
| Stock Name | % Change |
|---|---|
| SoFi Technologies Inc. (NASDAQ:SOFI) | -9.51% |
| American International Group Inc. (NYSE:AIG) | -7.89% |
| Johnson Controls International plc (NYSE:JCI) | -7.59% |
| Roblox Corp. (NYSE:RBLX) | -5.55% |
| Armstrong World Industries Inc. (NYSE:AWI) | -5.47% |
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