Stock futures climb as traders shift focus to earnings amid Middle East tensions: Live updates - CNBC

What the report says

CNBC reported that U.S. stocks rose Tuesday as investors shifted attention toward corporate earnings while continuing to monitor tensions in the Middle East. The Dow Jones Industrial Average gained 385.38 points, or 0.74%, to close at 52,224.64. The S&P 500 advanced 0.89% to 7,509.20, and the Nasdaq Composite climbed 1.29% to 25,837.21, ending three-session losing streaks for all three major indexes.

The advance was supported by strong moves in chip-related shares and upbeat earnings from major companies. CNBC said 3M rose more than 7% after second-quarter results beat expectations, while General Motors gained nearly 5% after topping revenue and profit estimates. Citing FactSet, CNBC reported that about 66 S&P 500 companies had reported results so far, with nearly 88% beating earnings estimates. Alphabet, IBM and Tesla were among the large companies still scheduled to report later in the week.

Semiconductor stocks helped lift broader sentiment, with the VanEck Semiconductor ETF up more than 4%. Micron Technology climbed 12%, Intel rose 8%, Marvell Technology gained more than 6% and Astera Labs added 3%. CNBC also cited market strategists who said investors were watching whether companies can meet elevated expectations after a rally to record levels.

The market move came as traders assessed developments in the U.S.-Iran conflict and oil-price volatility. CNBC reported that U.S. Central Command had carried out a 10th consecutive night of strikes on Iran and that Tehran-linked actions had affected U.S. military and regional assets. Oil prices moved higher Tuesday, with West Texas Intermediate and Brent crude both up about 2%, as investors watched reported mediation efforts.