NEW YORK, New York - U.S. stocks held their ground Tuesday despite disappointing retail sales data.

The U.S. Commerce Department reported Tuesday that retail and food sales for May were recorded at $703.1 billion, up 0.01 percent whereas 0.2 percent was expected, according to a Dow Jones reading among analysts. Additionally the previous figure of unchanged was revised downwards by 0.02 percent.

Demand for Nvidia was a highlight Tuesday. Such was the extent of it that during the day Nvidia swept past Microsoft to become the highest capitalized stock ever, with a value in excess of $3 trillion.

"You see investors trying to ride this train as long as they can with Nvidia and the usual suspects, but now you also got those second-tier names" participating, Mahoney Asset Management's Ken Mahoney told CNBC Tuesday.

"Money isn't leaving the market, but I do sense a rotation out of the leaders for this quarter," he said.

The S&P 500 rose by 13.80 points, or 0.25 percent, to close at 5,487.03. This gain reflects continued investor confidence in the broad market index.

The Dow Jones Industrial Average (DJIA) increased by 56.76 points, or 0.15 percent, ending the day at 38,834.86. The blue-chip index's performance indicates a stable trading session for large-cap stocks.

The NASDAQ Composite experienced a slight uptick, rising by 5.21 points, or 0.03 percent, to close at 17,862.23. This minor gain suggests a balanced day for technology and growth stocks.

Global Forex Markets: Tuesday's Key Currency Movements

The foreign exchange markets saw varied movements on Tuesday, reflecting diverse economic signals and investor sentiment across different regions. Demand for the U.S. dollar wilted earlier in the day and remained that way on release of the retail sales data,

The Euro (EUR) saw a slight increase against the greenback, with the EURUSD pair rising by 0.04 percent to creach 1.0737. This modest gain indicates a stable trading day for the euro.

The U.S. dollar strengthened slightly against the Japanese yen (JPY), with the USDJPY pair climbing by 0.08 percent to settle at 157.83. This uptick reflects continued uncertainty about actions of the Bank of Japan.

Conversely, the weakened against the Canadian dollar (CAD), with the USDCAD pair declining by 0.05 percent to 1.3717. The Canadian dollar's slight gain suggests positive market sentiment towards the currency amidst a firming of commodity prices.

The British pound (GBP) experienced a minor rise against the dollar, with the GBPUSD pair inching up by 0.03 percent to 1.2707. This small increase signals a stable day for the British currency as the country prepares for the general election on 4 July.

The U.S. dollar faced a more significant decline against the Swiss franc (CHF), with the USDCHF pair falling by 0.60 percent to 0.8841. This notable decrease indicates a strong performance by the safe-haven Swiss franc.

The Australian dollar (AUD) too showed a robust gain against the dollar, with the AUDUSD pair increasing by 0.65 percent to 0.6655. This substantial rise highlights positive market conditions for the Australian currency after the Reserve Bank of Australia left interest rates unchanged Tuesday.

The New Zealand dollar (NZD) also performed well, with the NZDUSD pair advancing by 0.23 percent to 0.6145. This gain underscores a favorable trading day for the New Zealand dollar.

Global Markets Rally as Major Indices Close Higher on Tuesday

Stock markets across the globe exhibited positive momentum on Tuesday, with major indices closing higher. This surge in optimism was reflected in the performance of several key markets.

CANADA

In Canada, the S&P/TSX Composite index added 23.42 points, or 0.11 percent, finishing at 21,611.30. The index's performance highlights a steady trading session for Canadian equities.

UNITED KINGDOM

In London, the FTSE 100 rose by 49.14 points, a gain of 0.60 percent, to close at 8,191.29.

EUROPE

Germany's DAX PERFORMANCE-INDEX also showed strength Tuesday, increasing by 63.76 points, or 0.35 percent, to end the day at 18,131.97.

The CAC 40 in France added 57.23 points, or 0.76 percent, to finish at 7,628.80.

The broader ESTX 50 PR.EUR climbed 35.05 points, or 0.72 percent, closing at 4,915.47.

The Euronext 100 Index was up 14.66 points, or 0.99 percent, settling at 1,500.52.

Belgium's BEL 20 on Tuesday gained 32.55 points, or 0.85 percent, ending at 3,865.43.

ASIA

Asian markets also saw significant gains. In Japan, the Nikkei 225 soared by 379.67 points, or 1.00 percent, to close at 38,482.11.

The HANG SENG INDEX in Hong Kong, however, fell slightly by 20.57 points, or 0.11 percent, to 17,915.55.

In China, the SSE Composite Index increased by 14.36 points, or 0.48 percent, to 3,030.25, while the Shenzhen Index rose by 37.21 points, or 0.40 percent, closing at 9,318.47.

Singapore's STI Index saw a modest rise Tuesday of 4.23 points, or 0.13 percent, ending at 3,301.78.

In India, the S&P BSE SENSEX added 308.37 points, or 0.40 percent, to close at 77,301.14.

Malaysia's FTSE Bursa Malaysia KLCI dipped slightly by 1.19 points, or 0.07 percent, ending at 1,606.13.

In South Korea, the KOSPI Composite Index increased by 19.82 points, or 0.72 percent, closing at 2,763.92.

Taiwan's TSEC weighted index saw a substantial rise on Tuesday of 260.90 points, or 1.16 percent, ending at 22,757.43.

OCEANIA

The S&P/ASX 200 in Australia gained 77.80 points, or 1.01 percent, to finish at 7,778.10, while the Australian ALL ORDINARIES advanced by 72.20 points, or 0.91 percent, closing at 8,015.80.

New Zealand's S&P/NZX 50 Index Gross gained 68.89 points, or 0.59 percent, to finish at 11,767.40.

MIDDLE EAST

In Israel, the TA-125 decreased by 4.24 points Tuesday, or 0.21 percent, to 1,973.91.

Egypt's EGX 30 Price Return Index surged by 284.20 points, or 1.09 percent, closing at 26,417.60.

AFRICA

Finally, the Top 40 USD Net TRI Index in South Africa experienced a significant gain of 203.20 points, or 4.93 percent, ending at 4,325.79.

Overall, Tuesday's trading session was marked by broad-based gains across multiple regions, reflecting a positive sentiment among investors.

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