Dow Soars 500 Points Amid Strong Earnings and Rate-Cut Hopes

The Dow Jones surged on Tuesday, driven by gains in smaller companies and a strong performance from UnitedHealth Group, which reported better-than-expected earnings. Retail sales for June remained steady, and big banks like Bank of America and Morgan Stanley reported mixed earnings. Traders are largely expecting the Federal Reserve to cut interest rates in the coming months, which could lead to lower mortgage rates. Despite the overall optimism, some tech stocks like Intel, Microsoft, and Apple saw losses.