US equity indices advanced on Tuesday as a continued pullback in energy prices helped ease global stagflation concerns. The S&P 500, Dow Jones Industrial Average, and Nasdaq 100 each rose about 0.5%. Crude oil prices fell for the first time this month after President Trump suggested the war in Iran may be nearing an end, and G7 leaders asked the IEA to advise officials on possible stockpile releases to help temper prices.
The decline in oil helped keep long-term US Treasury yields below the monthly highs reached last week, while interest-rate futures markets continued to price in two Federal Reserve rate cuts this year.
Chipmakers led the equity gains: Micron and Intel each climbed more than 5%, and Nvidia added 1.5% after TSMC reported a 30% surge in sales over the first two months of the year. By contrast, asset managers were subdued amid persistent concerns about potential bad loans in the private credit sector.
In corporate news, Hewlett Packard Enterprise edged higher following its earnings release, while Oracle traded roughly flat ahead of its results due after the close.
