As the US stock market approached the early close of Tuesday's trading session, major indices showed significant gains, driven by investor optimism surrounding holiday shopping options from companies like Amazon.com Inc. and Walmart Inc.

The technology sector, particularly the semiconductor industry, continued to see growth, influenced by President Joe Biden's decision to initiate a probe into chips developed in China but used in the United States.

By 11:40 am ET, the Dow Jones Industrial Average had risen by 0.52% or 223 points. Meanwhile, the Nasdaq 100 surged by 1.08% or 231 points, and the S&P 500 increased by 0.78%.

In currency markets, the euro experienced a 0.11% decline against the dollar, trading at $1.03943 at 11:35 am ET.