Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, May 4, 2026.

Michael Nagle | Bloomberg | Getty Images

U.S. stocks were higher on Tuesday, while oil prices slid as traders reacted to a number of solid earnings results.

The S&P 500 rose 0.6%, while the Nasdaq Composite gained 0.8% and hit a new all-time intraday high. The Dow Jones Industrial Average added 215 points, or 0.5%.

Crude prices declined across the board , giving equities a boost. West Texas Intermediate crude futures dipped 3% to above $102 per barrel. Brent crude futures lost 2% to trade at above $111 a barrel.

The ceasefire between the U.S. and Iran remains fragile amid fresh attacks in the Strait of Hormuz . However, Defense Secretary Pete Hegseth said Tuesday that the ceasefire "certainly holds" and that "two U.S.…