US stocks mostly rose on Tuesday, with tech stocks leading a rally after the latest consumer inflation report revealed easing prices in April amid continued euphoria over the US-China trade truce.

The S&P 500 rose 0.7%, and is now in the green on the year in a stunning turnaround just more than a month after it had plunged to 2025 lows amid President Trump's whipsawing tariff moves. The tech-heavy Nasdaq Composite pushed up about 1.6% after entering a new bull market in the prior session.

Market Snapshot

The Dow Jones Industrial Average fell 269.67 points, or 0.64%, to 42,140.43, the S&P 500 gained 42.36 points, or 0.72%, to 5,886.55 and the Nasdaq Composite gained 301.74 points, or 1.61%, to 19,010.09.

Market Movers

UnitedHealth fell 18% as the health insurer named Stephen J. Hemsley as its CEO, following Andrew Witty's decision to step down as chief executive for personal reasons. The company also suspended its 2025 outlook. The company said "care activity continued to accelerate while also broadening to more types of benefit offerings than seen in the first quarter, and the medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare remained higher than expected."

UnitedHealth's peers also were trading lower. CVS Health was down 6.7%, Elevance Health declined 9.9%, and Humana fell 9.5%.

Amazon.com rose 1.3%, Meta Platforms was up 2.6%, Apple gained 1%, and Nvidia was up 5.6% after the Magnificent Seven stocks collectively added $830.9 billion in market cap in Monday's risk-on rally, the second-largest one-day market cap gain for the group on record, according to Dow Jones Market Data.

NVIDIA 's market capitalization rose to $3.17 trillion. It was the stock's first time closing above $3 trillion in market cap since Feb. 28, according to Dow Jones Market Data. Boosting the stock was optimism about sales in Saudi Arabia and Nvidia's coming earnings report.

Tesla Motors rose 4.9% after closing with a gain of 6.8% on Monday. The market cap of the electric-vehicle company, which also is a member of the Magnificent Seven, on Monday moved back above $1 trillion, which hadn't happened since late February. The House Ways and Means Committee late Monday published a markup of a bill intended to be part of President Donald Trump's "One Big Beautiful Bill" that would see EV purchase tax credits eliminated by the end of 2025.

Palantir Technologies Inc. rose 8.1% to $128.10, which was its highest close on record. The data analytics company also closed with a market cap above $300 billion for the first time.

SUPER MICRO COMPUTER INC rose 16% to $38.89. Analysts at Raymond James initiated coverage on shares of the server maker at Outperform with a price target of $41. The analysts called the company " a market leader in AI-optimized infrastructure," noting that artificial-intelligence platforms presently make up nearly 70% of Super Micro's revenue.

U.S.-listed shares of JD.com rose 3.3% after the Chinese e-commerce company posted first-quarter earnings and revenue that rose from a year earlier. Net profit in the quarter jumped 53% to 10.89 billion yuan ($1.51 billion).

Coinbase Global, Inc. surged 24% after it was announced the cryptocurrency trading platform would be added to the S&P 500 on May 19. Coinbase will replace Discover Financial Services, which is being acquired by Capital One Financial in a deal that is expected to close soon, according to S&P Dow Jones Indices.

First Solar rallied 23%. Analysts at Wolfe Research upgraded the stock to Outperform from Peer Perform, and J.P. Morgan said the House Ways and Means Committee' portion of the budget reconciliation bill was a significant positive for the solar company.

Boeing rose 2.5% after a Bloomberg report said China removed a month-long ban on airlines taking delivery of the company's planes.

FedEx slipped 0.8% as Amazon.com said it would be working with the logistics provider on last-mile delivery. "We've reached an agreement with FedEx to serve as one of several third-party partners to deliver packages to our customers," Amazon spokesman Steve Kelly said in a statement to Barron's. Back in January, United Parcel Service announced it would reduce volume with Amazon, its largest customer, by 50% in the second half of 2026.

Hertz Global Holdings, Inc. reported a first-quarter adjusted loss of $1.12 a share, wider than analysts' estimates that called for a loss of 98 cents, as revenue declined 13% to $1.8 billion and missed expectations of $2 billion. The stock fell 17%.

Rigetti Computing, the quantum-computing company, reported first-quarter revenue of $1.5 million, a decline from $3.1 million a year earlier and below analysts' forecast of $2.6 million. Rigetti's operating loss in the quarter was $21.6 million, wider than a year-earlier loss of $16.6 million. Shares dropped 15%.

On Holding, the running-shoe and apparel company, reported first-quarter first-quarter adjusted earnings that were slightly below estimates, but revenue of 726.6 Swiss francs topped Wall Street forecasts. The stock rose 12%.

Market News

Google is testing AI search on its homepage

Google’s stalwart search button has a new neighbor: AI Mode.

The artificial intelligence feature is being tested directly beneath the Google search bar beside a “Google Search” button, replacing the “I’m Feeling Lucky” widget. The new feature, though not widely available yet, is being tested in a location where Google rarely makes changes.

A company spokesperson confirmed the feature began rolling out to some users over the past week.

Nvidia CEO Compensation Jumps to $50 Million After Stock Surge

The pay package of Nvidia Corp. Chief Executive Officer Jensen Huang jumped 46% to nearly $50 million in fiscal 2025 after the company he co-founded became the top beneficiary of an artificial intelligence spending boom.

Huang’s compensation is up from $34.2 million in the prior year, mainly due to the soaring value of his stock awards. The salary portion of his pay increased to almost $1.5 million, up from $996,514 the prior year, the company said in a regulatory filing.