Tech Stocks Rally as Oil Prices Drop Ahead of Nvidia Earnings

Wall Street's main indexes closed higher on Tuesday as technology stocks recovered from a selloff ahead of Nvidia's earnings. The Dow Jones Industrial Average rose by $160.24 to 53,577.40, while the S&P 500 gained $24.38 to 7,677.24 and the Nasdaq Composite climbed $171.11 to 26,151.30.

The gains could ease investor concerns sparked by a recent bond market rout that lifted yields and pressured equities. This was a welcome relief for investors as oil prices dropped to a one-week low and traders continued to weigh the implications of Treasury Secretary Scott Bessent's decision to expand Treasury buybacks.

Nvidia's results on Wednesday will be the next test for the earnings-driven rally. Any signs of slowing growth could reignite concerns about stretched valuations and how long the AI boom can sustain them.