US Market Rises Amid Chipmaker Declines, Lower Oil Prices

Despite the S&P 500 rising 0.2% on Tuesday, the modest move masked big swings underneath the surface.

The Dow Jones Industrial Average jumped 537 points, or 1%, while the Nasdaq composite slipped 0.2% after briefly dropping 9.3% below its record set last month.

The majority of the U.S. market rose after more companies delivered stronger profits for the spring than analysts expected.

Coca-Cola's stock climbed 5% after its revenue rose 7%, while Sherwin-Williams and Illinois Tool Works also reported stronger earnings, with their stocks rallying 8.3% and 3.6%, respectively.