US Stock Markets Rise on Corporate Earnings, AI Stock Volatility Continues

US stock markets generally gained value on Tuesday thanks to major companies reporting earnings above expectations. The S&P 500 index rose by 0.3%, while the Dow Jones Industrial Average increased by 1%. Conversely, fluctuations in the artificial intelligence sector pushed the Nasdaq index into a slight decline. While the drop in oil prices provided support to airline companies, General Motors lost value despite beating earnings expectations because its full-year forecast fell short.

Equifax shares gained 11.3% in value following a summer profit that beat expectations despite high mortgage rates. Meanwhile, Hasbro rose 11.2% after the quarterly revenue of its "Magic: The Gathering" game exceeded $600 million for the first time. 3M, the maker of Ace bandages and Scotch-Brite sponges, also recorded a 5.8% increase after reporting strong profits despite inflationary pressures. On the other hand, shares of the Braze platform, announced to be acquired by Salesforce for $47.50 per share, surged by 51.7%.

Despite reporting earnings that beat expectations and a $20 billion share buyback program, General Motors dropped 6.8% because its full-year 2026 profit forecast remained below analyst expectations. While the price of Brent crude oil per barrel fell 0.7% to $108.79, this situation benefited major fuel-cost airlines such as American Airlines and United Airlines. While sharp volatility in shares of artificial intelligence chip renter CoreWeave continued, South Korean artificial intelligence company Elice lost 32% of its value on its first trading day in Seoul.