The US stock markets closed mixed on Tuesday as big technology stocks lost and companies that rely on consumer spending gained.
The S&P 500 and the Dow Jones Industrial Average rose, while the tech-heavy Nasdaq fell.
Despite US President Joe Biden ordered 50 million barrels of oil released from the nations strategic reserve to help bring down energy costs, prices of crude oil and wholesale gasoline rose. The move was made in concert with other big oil-consuming nations.
The S&P 500 rose 7.76 points, or 0.2%, to 4,690.70.
The Dow Jones Industrial Average rose 194.55 points, or 0.5%, to 35,813.80.
The Nasdaq fell 79.62 points, or 0.5%, to 15,775.14.
The Russell 2000 index of smaller companies fell 3.49 points, or 0.1%, to 2,327.86.
For the week:
The S&P 500 is down 7.26 points, or 0.2%.
The Dow is up 211.82 points, or 0.6%.
The Nasdaq is down 282.30 points, or 1.8%.
The Russell 2000 is down 15.31 points, or 0.7%.
For the year:
The S&P 500 is up 934.63 points, or 24.9%.
The Dow is up 5,207.32 points, or 17%.
The Nasdaq is up 2,886.86 points, or 22.4%.
The Russell 2000 is up 353 points, or 17.9%.
-With agency inputs