Markets Move Higher in Afternoon

U.S. equities rose on Tuesday, led by gains in Advanced Micro Devices and software stocks, as investors’ fears around artificial intelligence disruption to certain industries eased.

The Dow Jones Industrial Average took flight 325.38 points to 49,129.44.

The S&P 500 index took on 39.27 points to 6,877.02.

The NASDAQ hurtled higher 206.55 points to 22,833.82.

Shares of AMD jumped 8% after Meta announced a multiyear deal with the semiconductor company. The new partnership entails deploying up to 6 gigawatts of AMD’s graphics processing units for AI data centers. Meta will also invest in AMD through a performance-based warrant for up to 160 million shares of AMD.

The move comes a week after Meta said it’s using millions of Nvidia’s chips in its data center buildout. Shares of the AI chip darling were last marginally higher.

DocuSign was also a winner, increasing 4% after Anthropic said that its Claude Cowork is now able to be connected to DocuSign as well as organizations’ other existing tools like Google Drive and Gmail. The move offered some optimism to investors that AI might be able to complement software companies rather than take their place.

That extended to other areas of the software space. Shares of Salesforce — which has been working with Anthropic as well — and ServiceNow were up 4% and 2%, respectively

Major averages fell Monday on renewed fears of AI disruptions to various industries. President Donald Trump’s threat to hike global tariffs to 15% and tensions between the U.S. and Iran also kept traders on edge. A global 10% U.S. tariff took effect Tuesday.

Heading into Tuesday, traders will keep an eye on a key event hosted by artificial intelligence firm Anthropic, the company behind Claude. Anthropic is expected to make new product announcements and demonstrate Claude’s latest features. Anticipation of the event — and the additional disruption it could bring — contributed to declines in the software space on Monday.

Prices for the 10-year Treasury gained ground, lowering yields to 4.04% from Monday’s 4.03%. Treasury prices and yields move in opposite directions.

Oil prices dropped 43 cents to $65.88 U.S. a barrel.

Gold prices dropped $70.30 to $5,155.30 U.S. an ounce.