Traders work on the floor during the York Space Systems IPO at the New York Stock Exchange (NYSE) in New York City, U.S., Jan. 29, 2026.
Jeenah Moon | Reuters
Stocks moved higher on Tuesday, with the Dow Jones Industrial Average hitting another all-time high, as investors moved into software stocks and more value-oriented areas of the market.
The 30-stock Dow rose 239 points, or 0.5%, receiving a boost from entertainment name Disney and financial stocks such as American Express and Goldman Sachs. The index had scored its third consecutive intraday record earlier in the day, a move that comes after it surpassed the 50,000 level for the first time ever last week. The S&P 500 traded up 0.3%, while the Nasdaq Composite climbed 0.2%.
The broader market was supported by gains in the software space — a group that led the market sell-off last week. Datadog and ServiceNow bounced 15% and 4%, respectively. Unity shares also jumped 5% after being upgraded to outperform from perform at Oppenheimer, which forecasts accelerating revenue growth and margin expansion for the company this year.
However, shares of retailers Costco and Walmart fell roughly 1%. On Tuesday, the latest retail sales report showed that consumer spending in December was flat, missing the 0.4% monthly gain that economists polled by Dow Jones were expecting. The figure comes after a 0.6% increase recorded in November.
Investors are awaiting the big jobs report on Wednesday, and the consumer price index on Friday.
Wall Street is coming off a second straight day of gains, and the Dow in particular notched fresh highs on an intraday and closing basis.
Tech stocks rallied Monday, building on their Friday comeback and helping lift the overall market. Investors are hopeful the market can sustain its upward advance after last week’s sell-off — led by fears around software and megacap tech — failed to meaningfully hurt the market on a technical basis.
Indeed, the S&P 500 has managed to recover support above its 50-day and 100-day moving averages, after dipping below them last week, and many asset classes are outperforming the index — bullish signals as far as traders are concerned.
“We don’t think that it’s going to be a clean trade,” Sonali Basak, chief investment strategist at iCapital, told CNBC’s “Closing Bell” on Monday. “It will be choppy, you have to be selective, but there will be winners through this.”
date:2026-02-10 15:44:00