Stocks Rally As Oil Prices Tumble; Tech, Chipmakers Lead As Traders Focus On AI Winners Before Earnings Season: What's Driving Markets Tuesday?

Quick Summary:

Optimism surrounding the upcoming earnings season also buoyed traders, leading to renewed buying in tech stocks and key AI-linked companies.The S&P 500 gained 0.8%, the Nasdaq 100 rallied 1.3% on the back of semiconductor strength, while the Russell 2000 posted a more modest 0.4% rise.

After starting the week with a negative session, U.S.markets rebounded on Tuesday, driven by falling oil prices, which helped alleviate concerns about a potential resurgence in inflation.

Crude oil dropped as much as 5% on the day, weighed down by China’s lack of additional fiscal stimulus and a de-escalation in geopolitical tensions between Israel and Iran.

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesChinaIsrael

Topics: US5949181045 Stories That Matter GOOGL IWM VLO PEP US81369Y8865 TSLA Earnings QQQ AAPL Econ #s Benzinga Macro Economic Events US67066G1040 $BTC XLU Economics US91913Y1001 US88160R1014 US0378331005 US81369Y5069 US78462F1030 Equities DOCU Broad U.S. Equity ETFs NCLH US78467X1090 XLE DAL Expert Ideas META MSFT US73935A1043 AMZN FCX US35671D8570 SPY ETFs US2473617023 NVDA XLK DIA US38259P5089 US81369Y8030 PANW US38259P7069 US0231351067 Midday update US7134481081 PA1436583006 New ETFs MPC GOOG CCL AAL Sector ETFs Top Stories US4642876555 Tech

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Published On: 2024-10-08 @ 17:52:30 (10 hours ago)

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News Source URL: benzinga.com

Language: English

Article Length: 393 words

Reading Time: 3 minutes read

Sentences: 19 lines

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