05:16 PM EDT, 06/03/2025 (MT Newswires) -- US equity benchmarks advanced Tuesday as Nvidia ( NVDA ) helped lift the technology sector, with the Dow Jones Industrial Average rising for a fourth straight session.

The Nasdaq Composite added 0.8% to 19,399 and the S&P 500 rose 0.6% to 5,970.4, both registering gains for the second day in a row. The Dow climbed 0.5% to 42,519.6.

Most sectors ended in the green, led by technology. Nvidia ( NVDA ) rose 2.8%, the best performer on the Dow.

Nvidia ( NVDA ) on Tuesday became the most valuable company of the US, overtaking Microsoft ( MSFT ) , whose shares were up 0.2%.

Trade policy changes have begun to weigh on the US economy, Federal Reserve Governor Lisa Cook said Tuesday, as she warned that tariffs could hinder progress on inflation.

Both the US and China have accused each other of violating a preliminary trade deal reached between the two countries last month. As part of that pact, Washington and Beijing suspended most tariffs on each other's imports for 90 days.

President Donald Trump has also vowed to double duties on steel and aluminum imports.

"The US economy is still on a firm footing, but uncertainty has notably increased since the beginning of the year," Cook said in a speech at the Council on Foreign Relations in New York. "There is evidence that changes to trade policy are starting to affect the economy."

US Treasury yields were little changed, with the two-year rate ticking up one basis point to 3.96% and the 10-year rate largely flat at 4.45%.

US job openings unexpectedly increased in April, while layoffs picked up, government data showed.

Official data are expected to show Friday that the economy added 130,000 jobs in May, compared with a 177,000 rise the month before, according to a Bloomberg-polled consensus.

The Organization for Economic Co-operation and Development lowered its global and US economic growth projections for 2025 and 2026 amid significant trade barriers, elevated policy uncertainty and deteriorating confidence. The latest outlook assumes that tariff rates as of mid-May remain intact despite ongoing legal challenges, according to the report.

"Weakened economic prospects will be felt around the world, with almost no exception," OECD Chief Economist Alvaro Pereira said. "Lower growth and less trade will hit incomes and slow job growth."

West Texas Intermediate crude oil was up 1.3% at $63.33 a barrel.

Dollar General ( DG ) shares jumped nearly 16%, the top gainer on the S&P 500, after the discount retailer raised its full-year revenue and same-store sales growth outlook as it recorded better-than-expected fiscal first-quarter results.

Dollar Tree ( DLTR ) was among the best S&P 500 performers, up 6%.

Meta Platforms ( META ) agreed to buy electricity from Constellation Energy ( CEG ) in a deal that would keep Constellation's nuclear power facility, Clinton Clean Energy Center, operational for two more decades. Constellation shares ended the day 0.1% down, while Meta fell 0.6%.

Gold was down 0.6% at $3,375.60 per troy ounce, while silver fell 0.2% to $34.63 per ounce.