U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 150 points on Tuesday.
The Dow traded up 0.50% to 37,574.66 while the NASDAQ rose 0.50% to 15,068.50. The S&P 500 also rose, gaining, 0.45% to 4,776.17.
Automotive is the top revenue driver for the semiconductor industry in 2024, followed by AI. Nvidia, Qualcomm, AMD, Intel and Apple are all big players in the AI chip market.
Wells Fargo Investment Institute has a 4600-4800 year-end 2024 target for the S&P 500 Index and 2000-2200 for the MSCI EAFE Index. Favored sectors are Health Care, Industrials, and Materials.