U.S. Stocks Rise While Oil Prices Climb and Some Companies Fall

U.S. stocks advanced Tuesday as shares of companies tied to artificial intelligence extended gains for a second straight session. The S&P 500 rose 0.9 percent. The Dow Jones Industrial Average added 361 points, or 0.7 percent, by mid-afternoon.

The Nasdaq composite increased 1.4 percent. Gains in chip makers and other AI beneficiaries outweighed pressure from rising oil prices. Micron Technology surged 12.7 percent after a 13.3 percent drop the prior week.

Nvidia added 1.5 percent. Brent crude climbed 2 percent to $91.01 a barrel and briefly touched near $92 for the first time in more than five weeks. The increase stems from continued attacks between the United States and Iran, pushing prices up from less than $72 early this month.

The 10-year Treasury yield rose to 4.63 percent from 4.60 percent the day before. Several U.S. companies reported stronger-than-expected quarterly results. 3M rose 6.9 percent after beating profit and revenue forecasts and raising its full-year 2026 profit outlook.

Hasbro gained 7.9 percent after its Magic: The Gathering game exceeded $500 million in quarterly revenue for the first time and the company lifted its annual revenue forecast. General Motors increased 4.8 percent after its profit and revenue topped estimates. Danaher fell 11.4 percent despite also beating expectations, with analysts citing a weaker summer revenue-growth forecast.

Horton slipped 0. The company cited affordability concerns and buyer caution amid mortgage rates at their highest level in nearly a year. In Europe, the FTSE 100 rose 0.6 percent.

South Korea’s Kospi jumped 3.6 percent, Tokyo’s Nikkei 225 climbed 3.3 percent, and Shanghai indexes gained 1.8 percent.