US stock exchanges saw gains on Tuesday. Trading in New York saw the Dow Jones industrial average finish at 49,298 points, marking a 0.7% increase from the previous day. Slightly earlier, the broader S&P 500 was up 0.8% at around 7,259 points, while the technology-heavy Nasdaq 100 calculated a gain of 1.3% at approximately 28,015 points.
The positive sentiment in the US market was bolstered by two main factors. Investors showed relief after the US Navy successfully escorted commercial vessels through the Strait of Hormuz, meaning fears of immediate escalation did not materialize. Furthermore, analyst forecasts regarding sustained high investments in Artificial Intelligence reinforced hopes that such technology would strengthen overall economic growth.
In the currency markets, the Euro gained slightly value by the evening, trading at 1.1697 US dollars, meaning the US dollar was available for 0.8549 Euros.
Commodities saw mixed movements. The price of gold rose, with a fine ounce reaching $4,555, a gain of 0.7%. This exchange rate translates to €125.20 per gram. By contrast, oil prices dropped sharply. The price for a barrel of Brent crude, derived from the North Sea, stood at $110.30 at about 10 p.m. German time, representing a decline of 3.6% or 414 cents compared to the previous trading day’s close.