NEW YORK, May 5 (Xinhua) -- U.S. stocks ended higher on Tuesday, with both the S&P 500 and the Nasdaq Composite Index notching fresh all-time highs as easing oil prices and a strong batch of corporate earnings boosted investor sentiment.
The Dow Jones Industrial Average rose 356.35 points, or 0.73 percent, to 49,298.25. The S&P 500 added 58.47 points, or 0.81 percent, to 7,259.22. The Nasdaq Composite Index increased by 258.33 points, or 1.03 percent, to 25,326.13.
All 11 primary S&P 500 sectors ended in the green. The materials and technology sectors led the gainers, advancing 1.67 percent and 1.63 percent, respectively. The utilities sector posted the weakest growth, edging up by just 0.01 percent.
The geopolitical backdrop provided some relief for markets, even as the ceasefire between the United States and Iran remains fragile amid reports of fresh attacks in the Strait of Hormuz. U.S. Defense Secretary Pete Hegseth said Tuesday that the ceasefire "certainly holds" and that "two U.S. commercial ships, along with American destroyers, have already safely transited the strait, showing the lane is clear."
Following these reassuring remarks, global energy markets retreated. West Texas Intermediate crude for June delivery dropped 4.15 U.S. dollars, or 3.9 percent, to settle at 102.27 dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery lost 4.57 dollars, or 3.99 percent, to close at 109.87 dollars a barrel on the London ICE Futures Exchange.
Another round of better-than-expected corporate financial results added to the positive momentum in equities. Shares of materials science giant DuPont de Nemours gained 8.43 percent after its first-quarter earnings and revenue beat Wall Street expectations. Belgian brewer Anheuser-Busch InBev popped 8.74 percent following its upbeat quarterly report.
Conversely, several notable companies faced sharp sell-offs after their earnings announcements. Shares of e-commerce platform Shopify sank 15.62 percent, and digital payments firm PayPal dropped 7.74 percent. Language-learning app Duolingo declined 5.62 percent, and data analytics company Palantir Technologies pulled back nearly 7 percent.
In the semiconductor sector, Intel emerged as a massive winner, soaring nearly 13 percent to hit a new all-time high following media reports that the chipmaker is in active discussions with Apple regarding custom chip supply. Meanwhile, rival chip maker Advanced Micro Devices saw its shares rise 4.02 percent as investors positioned themselves ahead of the company's scheduled earnings release after the market close. ■