Communication Services, Technology Push US Equity Indexes Higher

US equity indexes rose in midday trading on Tuesday as growth sectors rebounded, while crude oil futures were mixed.

The Nasdaq Composite jumped 2.1% to 21,222.5, with the S&P 500 up 1.5% to 6,441.1 and the Dow Jones Industrial Average higher by 1.1% to 45,706.1. Communication services, technology, and consumer discretionary led the gainers. Utilities and consumer staples were the sole decliners.

In economic news, US job openings fell to 6.882 million in February according to the Bureau of Labor Statistics, below the 6.890 million openings expected in a survey compiled by Bloomberg and down from the 7.240 million openings reported in January.

The Institute for Supply Management's Chicago PMI sank to 52.8 in March from 57.7 in February, compared with the 55.0 expected in a Bloomberg-compiled survey.

The CME FedWatch tool showed on Tuesday that the probability of the Fed easing interest rates by 25 basis points jumped across its June to December meetings, compared with a day and a week ago.

In energy news, West Texas Intermediate crude oil futures advanced 1.7% to $104.59. Brent crude futures, however, declined less than 0.1% to $107.32.

US President Donald Trump told aides that he was willing to bring an end to the conflict, as any attempt to pry open the strategic chokepoint could push the campaign beyond his planned timeline of four to six weeks, according to the Wall Street Journal on Monday. This comes as the average US gas price hit $4 a gallon, the highest since 2022.