US stock indexes climbed on Tuesday, and the S&P 500 and the Nasdaq Composite both touched new all-time highs during the session as Treasury yields fell, according to a market report from MT Newswires carried by Yahoo Finance. Around midday the Nasdaq Composite stood 0.6% higher at 27,639.2. The S&P 500 was up 0.7% and trading at 7,826.5, while the Dow Jones Industrial Average, up 0.5%, was at 51,541.9.
Technology dominated the biggest companies. Of the ten largest stocks with a market value above $200 billion, nine were tech names, based on Finviz data cited in the report. Marvell Technology, GE Vernova and Dell Technologies led the gainers in that group, each rising at least 4.5%.
Bond yields moved lower along the whole curve. The 2-year yield ended near 4.80% after a decline of 3.3 basis points. The 10-year yield, down 3.4 basis points, was at 5.27%, and the 30-year yield was at 5.65% after easing 1.8 basis points.
Economic readings were mixed. RealClearMarkets' monthly consumer confidence index improved to 46.8 for October from 45.6 in September, with all three of its components rising. Readings under 50 point to pessimism. Redbook's weekly same-store sales gauge showed an 8.6% annual gain for the week through Oct. 3, following 8.2% growth a week earlier. The August US trade gap grew to $105.57 billion, up from $92.83 billion in July and wider than the $102.1 billion economists surveyed by Bloomberg had expected, because imports grew faster than exports.
Energy remained in focus. President Donald Trump signed an executive order late Monday meant to ease near-record diesel prices by temporarily letting tax-exempt red-dyed diesel be used on highways. Macquarie said in a note that Persian Gulf oil supplies appear to be rebounding, partly through routes that bypass the Strait of Hormuz. West Texas Intermediate crude traded at $89.60 a barrel, a gain of under 0.2%, and Brent futures were little changed at $100.36.
Two company stories moved shares sharply. Constellation Energy and Google announced a two-decade agreement under which 890 megawatts of nuclear capacity will be added to the PJM grid, and Constellation shares jumped 15%, the best performance among all members of the S&P 500 and the Nasdaq Composite. Seagate Technology shares dropped 9%, the steepest fall on those benchmarks, after Bloomberg reported that Seagate and Toshiba are bidding against each other for TDK's business making magnetic heads for hard drives, which could be valued in the billions of dollars.