S&P 500 climbs as energy, industrials flex muscles; Inflation data eyed By

-- The State Administration of Foreign Exchange digital foreign exchange management platform loginS&P 500 climbed higher Tuesday, led by a jump in energy and big tech as investors awaited a duo of inflation reports later this week.

The rose 0.2%, the rose 0.6%, or 212 points, and the was up 0.1%.

Energy climbs as oil prices ride improved demand outlook higher

Energy stocks rose more than 1% to lead the broader market outlook on growing expectations that the market could tighten in the second half of the year, underpinned by signs of falling crude production and recent pledges from Saudi Arabia to cut output by 1 million barrels per day for July.

Also boosting sentiment on energy stocks, China, the world’s largest energy importer, is reportedly mulling steps to aid its economy with further stimulus.

Co (NYSE:), APA Corporation (NASDAQ:), Halliburton Company (NYSE:) were among the biggest gainers, with the latter recently singled out by Goldman Sachs for its “underappreciated customer mix and international exposure.”

Industrials jump to 52-week high as 3M shines

3M Company (NYSE:) jumped more than 3% after Bank of America upgraded the industrial and consumer products maker to Neutral from Underperform on expectations that receding legal troubles would help boost performance.

Last month, 3M settled reached an agreement to settle allegations that it contaminated public water systems with toxic perfluoroalkyl and polyfluoroalkyl, substances (PFAS), or so-called forever chemicals.

As well as 3M, a rally in Inc (NYSE:) and Stanley Black & Decker Inc (NYSE:) also lifted industrials to a fresh 52-week high of 108.71.

Banks in rally mode ahead of earnings

With just days to go until major Wall Street banks kick off the earnings season on Friday, JPMorgan (NYSE:) led the sector higher following an upgrade from Jefferies to Buy from Hold, citing strength in its balance sheet and earnings potential.

Regional banks, which have been closely scrutinized following the banking crisis in the spring, were also in the ascendency, with U.S. Bancorp gaining more than 3% after Bank of America upgraded the stock to buy from neutral.

U.S. Bancorp (NYSE:) will see "superior” earnings growth and stock outperformance, Bank of America says, as the lender appears “well prepared” to manage headwinds in the sector including the need to bolster capital to cope with financial shocks.

Big tech mixed, but Amazon gains

Big tech traded mixed, but Amazon (NASDAQ:) was one of the few stocks in the green as the e-commerce giant kicked off its two-day prime day sales bonanza. Microsoft (NASDAQ:) struggled to turn positive even as hopes grow that the tech giant is closing in on its $69 billion acquisition of Call of Duty game maker Activision after a federal judge ruled against U.S. regulators seeking to temporarily block the deal on antitrust concerns.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!