Tech and semiconductor stocks move higher into the close, U.S. dollar rally comes to a pause

Yahoo Finance markets reporter Ines Ferre breaks down the market rally action, as well as the sector gains, Dow Jones and Nasdaq leaders, semiconductor stocks, and the travel industry.

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RACHELLE AKUFFO: We're just minutes away from the closing bell on this turnaround Tuesday for the major indices. Let's bring in Yahoo Finance's Ines Ferre to break down the market action. Ines, what are you watching?

INES FERRE: And Rachelle, it looks like we're going to end near the highs of the session. We're watching the Dow right now up more than 740 points. The NASDAQ composite having its best day in three weeks, up more than 3%, and the S&P 500 up 2.7%. Also want to mention the small caps, the Russell 2000 up 3 and 1/2% today.

Taking a look at the US dollar, well, the US dollar rally has paused. And this has been good for stocks to the upside. So let's take a look at the sectors. We're watching all 11 sectors of the S&P 500 in the green. You've got industrials that are leading, communication services, and also materials and energy.

Over on the Dow, all the Dow components being in the green, except for Johnson & Johnson. Merck just flipped into the green. And IBM down more than 5%, falling the most since October 2021. Taking a look at the NASDAQ, we are looking at the NASDAQ 100, with Amazon up almost 4%. You've got Alphabet up more than 4%. Nvidia up more than 5% as the semis are seeing some gains. Take a look at all the green on the screen there.

Also looking at the travel stocks, the cruise lines are doing well. Carnival is one of the top performers today of the S&P 500. And we're also watching Airbnb up more than 4%. Here's the closing bell for today, Tuesday, July 19.