Major US stock indices closed higher on Tuesday as investor concerns about artificial intelligence disrupting the software industry eased. Docusign (DOCU.US) rose 2.63% after Anthropic announced its Claude Cowork tool can now integrate with Docusign and other enterprise systems. This development boosted optimism that AI may complement rather than replace software companies.
At market close, the Dow Jones Industrial Average gained 370.44 points (0.76%) to 49,174.50. The Nasdaq Composite advanced 236.41 points (1.04%) to 22,863.68, while the S&P 500 increased 52.32 points (0.77%) to 6,890.07.
Oracle (ORCL.US) climbed 3.4%, with Advanced Micro Devices (AMD.US) surging more than 8.7%. Intel (INTC.US) gained nearly 6%, and PayPal (PYPL.US) rose 6.7%. The Nasdaq Golden Dragon China Index closed up 1.37%, with XPeng Inc. (XPEV.US) and GDS Holdings both rising over 6%.
European markets showed mixed performance. Germany's DAX 30 added 9.52 points (0.04%) to 24,996.10, while Britain's FTSE 100 declined 6.89 points (0.06%) to 10,677.85. France's CAC 40 gained 22.04 points (0.26%) to 8,519.21.
In cryptocurrencies, Bitcoin fell 0.77% to $64,157.87, while Ethereum edged up 0.2% to $1,860.08. The US Dollar Index rose 0.14% to 97.844.
Oil prices declined with April WTI crude falling 68 cents (1.03%) to $65.63 per barrel. Brent crude for April delivery dropped 72 cents (1.01%) to $70.77 per barrel.
Gold spot price decreased 1.59% to $5,144.79, while silver traded at $87.113.
Federal Reserve officials provided mixed signals on monetary policy. Collins suggested rates could remain unchanged for some time, noting current rates are near neutral levels. Cook warned that AI transformation might temporarily push neutral rates higher, while Goolsbee emphasized the Fed would only cut rates when inflation declines reliably.
Citigroup expressed short-term bullishness on copper, forecasting prices could reach $14,000 per ton within three months. The bank maintained its 2026 average price forecast of $13,000 per ton.
Bank of England Governor Bailey described a March rate cut as a "genuine open question," indicating potential policy easing later this year.
In corporate developments, Coinbase (COIN.US) launched stock trading services for all US users, enabling 24/5 trading with zero commissions. Alibaba (BABA.US) introduced its Qwen 3.5 medium-sized model series, featuring enhanced capabilities with lower computational requirements.