Wall Street ends higher on chip stocks recovery; earnings draw focus

STORY: U.S. stocks closed higher on Tuesday, with the Dow gaining roughly three-quarters of a percent, the S&P 500 adding nearly nine-tenths of a percent and the Nasdaq climbing about 1.3%.Gains in recently battered semiconductor stocks pushed the Philadelphia Semiconductor Index more than 5% higher. It was the index's second consecutive advance after ending Friday more than 20% below its record high, reached in late June.Meanwhile, investors looked past a 2% rise in oil prices as well as a fresh tariff battle, after President Donald Trump slapped a 50% duty on a wide range of imports from Canada.Eric Parnell is chief market strategist at Great Valley Advisor Group."It's another day in the market and it's another tariff headline coming out of Washington, DC... But we've been down this road many, many times with tariffs over the last 12 to 18 months. And on a micro level, we can dissect what's the implication going to be for the beverage industry or the food industry associated with some of these tariffs. But what we've really seen, and we've also seen it with the Iran conflict, once the market gets comfortable with its reaction function, then it largely dismisses these headlines. And I think we should continue to expect this going forward."Stocks on the move Tuesday included Super Micro Computer, which closed 7% higher and climbed another 16% in extended trading after the AI server maker said it expects gross margins for the quarter to be above its previous forecast.Shares of 3M gained more than 7% after the industrial giant lifted its full-year profit forecast.And shares of Hasbro jumped nearly 9% after the company raised its annual revenue and profit forecasts, betting on demand for its digital gaming and "Magic: The Gathering" products.The focus this week now turns to results from tech giants Alphabet, Tesla and Intel.