Dow Jones Extends Record Highs, Silver Hits $80: What's Moving Markets Tuesday?

Wall Street has kicked off 2026 on a strong footing, with large-cap indexes heading toward a third straight session of gains on Tuesday. By midday trading in New York, the Dow Jones Industrial Average rallied nearly 1%, extending record highs as investors rotated into cyclical and blue-chip stocks. Silver broke above $80 an ounce, jumping more than 5% amid persistent supply shortages. Platinum surged 8.1% after Monday's sharp advance, while palladium gained 6.5%. Gold climbed for a third consecutive session, up 0.9% to $4,490 an ounce. Copper added 1% to $6.07 per pound, setting new record highs. Mining stocks followed bullion prices higher. The VanEck Gold Miners ETF (NYSE:GDX) and the Global X Silver Miners ETF (NYSE:SIL) both gained 3.7%. Sandisk, Western Digital, Seagate Memory chip stocks also stood out. Sandisk Corp. (NASDAQ:SNDK), Western Digital Corp. (NASDAQ:WDC) and Seagate Technology Holdings plc (NASDAQ:STX) jumped 24.6%, 15.8% and 12.4%, respectively, topping S&P 500 gainers. The rally was driven by expectations of rising memory prices amid a global supply crunch. Shares of Albemarle Corp. (NYSE:ALB) rose 10.7% after Jefferies raised its price target, citing stronger long-term demand tied to energy storage and electric vehicles. On the downside, Tesla Inc. (NASDAQ:TSLA) fell more than 4%, marking its eighth decline in nine sessions. Competitive pressure in the robotaxi market weighed on sentiment, alongside reports of market share losses in Europe against Chinese EV-maker BYD. Energy stocks lagged as oil prices pulled back. West Texas Intermediate crude fell 1% to $57 a barrel after Wall Street banks warned that rising supply from Venezuela could pressure prices further. The Energy Select Sector SPDR Fund (NYSE:XLE) dropped 2.1%, almost fully reversing Monday’s gains on the back of Maduro’s capture. Chevron Corp. (NYSE:CVX) slid nearly 4%, after rallying over 5% on Monday. Tuesday's Performance In Major US Indices, ETFs Major IndicesPrice% ChangeNasdaq 10025,623.04+0.9%S&P 5006,942.79+0.6%Dow Jones49,441.37+0.9%Russell 20002,554.05+0.2%Updated by 12:40 p.m. ET According to Benzinga Pro data: The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.5% to $635.34. The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) moved 0.9% higher to $493.63. The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) gained 0.7% to $622.37. The iShares Russell 2000 ETF (NYSE:IWM) traded 0.3% up to $253.48. The Materials Select Sector SPDR Fund (NYSE:XLB) outperformed, up 2.0%; the Energy Select Sector SPDR Fund lagged, down 2.1%. Russell 1000's Top 5 Gainers And Losers On Tuesday Stock Name% ChangeSandisk Corp. +24.57%Western Digital Corp. +15.76%Allegro MicroSystems Inc. (NASDAQ:ALGM)+12.50%Albemarle Corp. (NYSE:ALB)+10.70%Fermi Inc. (NASDAQ:FERM)+10.48% Stock Name% ChangeSoFi Technologies Inc. (NASDAQ:SOFI)-9.51%American International Group Inc. (NYSE:AIG)-7.89%Johnson Controls International plc (NYSE:JCI)-7.59%Roblox Corp. (NYSE:RBLX)-5.55%Armstrong World Industries Inc. (NYSE:AWI)-5.47% Read now: Goldman Says Oil Market’s Future Just Got Rewritten In Venezuela Image: Shutterstock