Major U.S. stock indexes advanced Tuesday, building on the earlier week’s momentum heading into the holiday period. The Dow Jones Industrial Average gained more than 1%, while the S&P 500 increased 0.5%, and the Nasdaq Composite edged up 0.1%.Retail Shares Outperform
Kohl’s (KSS) stock jumped 35% after the retailer reported an unexpected third-quarter profit. The company also announced that Michael Bender, previously interim CEO, will officially take over the role permanently, following the exit of his predecessor amid allegations of vendor-related misconduct.Abercrombie & Fitch (ANF) climbed 30% after quarterly earnings topped forecasts. While its flagship Abercrombie brand showed slower growth, stronger performance at Hollister is expected to drive sales through the holiday shopping period.
Tech & Communication
Zoom Communications (ZM) rose 12% following earnings that exceeded expectations. The company cited increasing adoption of its AI-powered tools as a key growth factor.Chipmakers Decline
Nvidia (NVDA) shares fell about 4% after reports suggested Meta Platforms (META) is considering sourcing chips from Alphabet (GOOGL). Other semiconductor names, including Advanced Micro Devices (AMD), also traded lower.