A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 16, 2026.
Jeenah Moon | Reuters
The Dow Jones Industrial Average rose on Tuesday as a number of upbeat earnings reports overshadowed pressure seen in the artificial intelligence trade.
The blue-chip index gained 400 points, or 0.8%, while the S&P 500 added 0.4%. The Nasdaq Composite traded up 0.2%.
Shares of industrial and safety products producer 3M offered a boost to the Dow, jumping more than 4% following better-than-expected earnings results and a full-year guidance raise. Shares of aerospace and defense companies Northrop Grumman and RTX also advanced 6% and 1%, respectively, after their respective earnings beats.
Meanwhile, oil prices pulled back from earlier gains, helping sentiment. U.S. West Texas Intermediate crude futures were last up 0.3% at around $104 per barrel, while Brent crude futures fell 2% to roughly $107 a barrel.
Micron Technology, Intel and Sandisk all fell around 2%. Seagate Technology, and Advanced Micro Devices were each down more than 1%, along with the VanEck Semiconductor ETF (SMH). CoreWeave shed more than 3%.
Sentiment in tech took a hit after Korean AI firm Elice tumbled more than 30% overnight in its public market debut. Investors recently have been worried about the sustainability of the AI trade, as debt and demand concerns grow.
The S&P 500 climbed 0.4% in regular trading on Monday, while the Nasdaq Composite advanced more than 1%. Nvidia added 1.4%, and Tesla jumped 3.8%. Alphabet shares advanced about 1%.
It marked a rebound from last week’s rout, which spilled over into the broader market, as concerns grew around companies borrowing too much money for their AI build-outs.
“Improving moods regarding the prospects of modern technology have Wall Street breathing a sigh of relief as participants drop hedges, after the cost of volatility protection soared intraday on Friday, ahead of the intensifying selloff,” wrote Jose Torres, senior economist at Interactive Brokers.
CoreWeave, which fell more than 25% last week, tried to recover some of that decline after a Goldman Sachs upgrade to buy. However, early gains fizzled and the stock closed slightly lower.
Asia-Pacific markets declined Tuesday, after U.S. stocks rose overnight. South Korea’s Kospi lost 3.73%. Japan’s Nikkei 225 declined 1.3%, while Australia’s S&P/ASX 200 fell 0.33% to 8,816.9.
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