U.S. markets ended higher on Tuesday, as a decline in crude oil prices boosted investor’s sentiments. Traders were optimistic with the Trump administration’s shift toward economic measures to pressure Iran, as it reduced the likelihood of a resumption of a full-scale military offensive. However, sentiment remained subdued after the Conference Board released a report showing a modest decline in consumer confidence in August, amid a deterioration in consumer expectations. The Conference Board said its consumer confidence index fell to 89.4 in August from a downwardly revised 90.2 in July. The Street had expected the index to edge down to 90.1 from the 90.8 originally reported for the previous month.
On the sectoral front, Computer hardware stocks showed substantial strength on the day, with the NYSE Arca Computer Hardware Index surging by 3 percent after declining sharply over the past several sessions. Gold stocks also posted notable gains, with the NYSE Arca Gold Bugs Index jumping by 2.3 percent.
Nasdaq increased 171.10 points or 0.66 percent to 26,151.3, S&P 500 gained 24.42 points or 0.32 percent to 7,677.28 and Dow Jones Industrial Average was up 160.24 points or 0.30 percent to 53,577.4.
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