Healthcare and real estate were among the strongest sectors, while technology and communication services lagged. Small-cap shares outperformed, with the Russell 2000 climbing 1. 7%, and the growth-focused IBD 50 exchange-traded fund rose 1. Trading volume increased on both the New York Stock Exchange and Nasdaq compared with Monday’s session.
Oil prices moved sharply during the session as geopolitical developments competed with renewed diplomatic hopes. Prices had risen earlier after Iran-backed Houthis said they attacked Saudi energy, airport and military targets. Iran also said two oil tankers it deemed “noncompliant” caught fire after striking naval mines placed in the Strait. The conflicting developments left energy markets volatile, while Ukrainian President Volodymyr Zelenskyy held talks with U.S.
Housing data added a drag to the market’s economic picture. Separate data showed pending home sales fell 7. 3% in September from the previous month and 11. 3% from a year earlier, with declines across all four major U.S. The pending-sales index tracks signed contracts for existing homes and generally leads completed sales by one to two months.
Company-specific moves reflected the market’s focus on earnings and guidance. Hasbro shares surged after third-quarter earnings rose 73% to $2. 90 a share on revenue of $1. 6 billion, helped by demand for Magic: The Gathering, while the company raised its full-year constant-currency revenue-growth outlook to 7%-9% from 5%-7%. Other premarket moves included a gain of about 4% for Halliburton, a decline of more than 7% for GM and a drop of more than 3% for GE Aerospace.