Stocks climbed on Tuesday, supported by chipmakers, as investors looked through the latest developments in the Iran war to focus on corporate earnings updates. The Dow Jones Industrial Average rose 212 points, or 0.4%, while the S&P 500 and the Nasdaq Composite advanced 0.6% and 1%, respectively. 3M shares jumped more than 7% after the industrial giant’s second-quarter earnings came in better than expected. Additionally, General Motors reported a beat on the top and bottom lines for the second quarter. The reporting period is off to a strong start. Of the roughly 54 S&P 500 names that have reported, 87% have topped bottom-line estimates, per FactSet. Big names set to report later this week include Alphabet, IBM, and Tesla. As companies issue their latest earnings results this week, traders will be hunting for details on artificial intelligence spending. They’ll also be listening on earnings calls for confirmation that executives aren’t becoming more cautious about the second half of the year. Semiconductors also gave a boost to the broader market. The VanEck Semiconductor ETF (SMH) gained 4%. Marvell Technology jumped 5%, along with Astera Labs, while Micron Technology gained 7%. Intel advanced more than 5%. Tuesday’s move higher comes after a losing session in which traders weighed escalations in the U.S.-Iran war. Central Command has carried out its 10th consecutive night of strikes on Iran since President Donald Trump declared the ceasefire “over,” while Tehran’s forces have struck U.S. military assets across the Middle East and its Houthi allies have declared a maritime embargo against Saudi Arabia. Oil prices seesawed on Tuesday as Wall Street monitored a renewed diplomatic push towards mediation efforts between the U.S. and Iran. Reports suggest mediators are proposing a 10-day ceasefire between the two adversaries. West Texas Intermediate crude futures were up 2% at above $85 a barrel, while international benchmark Brent was 2% higher at above $91. Oil had traded higher during Monday’s session after President Donald Trump said in a Truth Social post that Tehran will pay for the deaths of three U.S. service members. The climb in energy prices pulled the major averages lower on the day, even as semiconductor stocks clawed back some of last week’s steep losses. U.S. Treasury yields edged lower across the curve on Tuesday. The benchmark 10-year Treasury yield slipped 0.6 basis point to 4.592%, while the two-year yield fell 1.1 basis points to 4.204%. The 30-year bond yield eased 0.3 basis point to 5.115%. Bond yields move inversely to prices. Asia-Pacific markets closed in the green. Japan’s Nikkei 225 added over 3% to 66,232.19, while the Topix rose 2.44% to 4,014.95. South Korea’s KOSPI advanced 3.56% to 6,747.95, while the KOSDAQ edged up 0.49% to 753.34. Australia’s benchmark S&P/ASX 200 was little changed at 8,793.3. Mainland China’s CSI 300 was up over 3% at 4,739.23, while Hong Kong’s Hang Seng index rose 0.25% in the last hour of trade. Gold gained ⁠more than 1% on Tuesday as investors weighed reports of fresh mediation efforts in the Middle ​East, which could ​weigh on energy ​prices and tame jitters about higher-for-longer interest rates to contain inflation. Spot gold gained 1.5% to $4,064.89 an ounce, while U.S. gold futures for August ⁠delivery ‌rose 1.4% to $4,069.70. “Gold has been in search of ⁠a price floor after its epic rally in January this year when it hit an all-time high, and there is some sense the worst in terms of a sell-off ‌may now be behind us,” independent analyst Ross Norman said. “That said, gold does struggle to discover any upside momentum just now, and ​caution remains the watchword,” Norman added.