Dow surges nearly 400 points, chip stocks lift market, investors eye tech earnings

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US stocks closed higher on Tuesday, with the Dow Jones Industrial Average surging nearly 400 points, boosted by semiconductor shares and better-than-expected corporate earnings, while investors also await earnings reports from major technology companies later this week. The Dow Jones Industrial Average ended at 52,224.64, up 385.38 points, or 0.74%. The S&P 500 closed at 7,509.20, up 65.92 points, or 0.89%. The Nasdaq Composite finished at 25,837.207, up 329.134 points, or 1.29%. Semiconductor stocks stood out, with the VanEck Semiconductor ETF rising more than 4%, while Micron Technology surged 12%, Intel gained 8%, Marvell Technology added over 6%, and Astera Labs rose 3%, reflecting buying back into artificial intelligence-themed stocks. Meanwhile, WTI and Brent crude oil prices both climbed 2% to their highest levels in five weeks, driven by concerns over energy supply risks in the Middle East amid tensions between the US and Iran.