Major U.S. Stock Indexes Close Higher Amid Strong Q2 Results
Major U.S. stock indexes closed higher on Tuesday, with the Dow Jones Industrial Average rising 1.71% to 54,085.88, the S&P 500 advancing 1.79% to 7,736.52, and the Nasdaq gaining 2.59% to 26,584.99.
Among the top stocks that gained attention from retail traders and investors was Space Exploration Technologies Corp. (NASDAQ:SPCX), whose shares surged 9.43% to $125.33 after the company reported strong quarterly results, including doubling its Starlink subscribers to 12 million and completing 78 launches year-to-date.
Advanced Micro Devices (AMD) stock also rose 7%, closing at $518.58, despite guiding third-quarter revenue below expectations, citing accelerating EPYC processor demand and expanding Instinct AI deployments.
Nvidia Inc.'s (NASDAQ:NVDA) stock gained attention after Elon Musk announced the company's decision to build exclusively on Nvidia architecture due to its Vera Rubin architecture being the 'best AI computer'.