Tech stocks loss, Wall Street leading market higher

NEW YORK (AP) — Stocks rose broadly on Wall Street in afternoon trading Tuesday as technology stocks rallied following a weak start.

The S&P 500 rose 1.3% as of 2:45 p.m. Eastern. The Dow Jones Industrial Average rose 393 points, or 1.2%, to 34,808. 

The tech-heavy Nasdaq shook off an early loss and was up 1.8%. Technology stocks helped power the broad gains. 

Pricey valuations for many of the bigger technology companies give them more sway in directing the broader market higher or lower. Microsoft rose 1.2%.

Retailers and health care companies also rose. Amazon rose 2.9%. Johnson & Johnson rose 3.3% after reporting surprisingly

Good earnings while also raising its dividend. Banks gained ground along with rising Treasury yields, which allow them to charge higher interest rates on loans.

The yield on the 10-year Treasury rose to 2.92% from 2.85% late Monday. Bank of America rose 1.7%. Smaller company stocks outpaced 

The broader market in a sign of confidence about economic growth. The Russell 2000 rose 2%. Energy stocks lagged the broader market.

U.S. crude oil prices fell 5.2% and natural gas prices slumped 8.2%. Wall Street is increasingly focusing on the latest round of corporate report cards

As more big companies release their earnings. Signature Bank jumped 8% after beating analysts’ expectations. Dental products maker 

Dentsply Sirona slumped 12.2% after firing its CEO without giving a reason, along with issuing a profit forecast for the current quarter 

That was far below analysts’ estimates. Netflix is on deck to report earnings after the market closes Tuesday. Railroad giant CSX will report earnings on Wednesday, along with Tesla. 

American Airlines and Union Pacific will report their results on Thursday.

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