U.S. markets closed higher on Tuesday, with Dow Jones Industrial Average closing at a fresh record high, led by strong gains in technology and semiconductor stocks amid renewed buying interest following last week’s correction. Sentiment remained upbeat after a report released by the Conference Board showed a modest increase in its U.S. consumer confidence index for June. The Conference Board said its consumer confidence index inched up to 91.2 in June from a downwardly revised 90.6 in May. Street had expected the index to rise to 94.8 from the 93.1 originally reported for the previous month.Besides, the Labor Department reported that job openings in the U.S. were nearly unchanged in May. The department said job openings inched up to 7.594 million in May from a downwardly revised 7.585 million in April. Meanwhile, as per private report, U.S. President Donald Trump claimed a meeting was scheduled in Qatar, while Iran’s Foreign Ministry reportedly denied that any talks had been planned.
On the sectoral front, telecom stocks gave back ground after moving sharply higher over the previous two sessions, dragging the NYSE Arca North American Telecom Index down 2.3 percent. Commercial real estate, pharmaceutical, utilities, and oil producer stocks also came under pressure. Meanwhile, airline stocks moved sharply higher, driving the NYSE Arca Airline Index up 3.2% to its highest closing level in more than four months.
Nasdaq surged 393.57 points or 1.52 percent to 26,213.72, S&P 500 up 58.93 points or 0.79 percent to 7,499.36 and Dow Jones Industrial Average increased 136.46 points or 0.26 percent to 52,319.2.
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