) -- Bullish earnings expectations from


(INTC) - Get Report

, ahead of its results on Tuesday, drove the stocks of leading chipmakers higher.

Intel rose more than 2%.

Advanced Micro Devices

(AMD) - Get Report


Texas Instruments

(TXN) - Get Report

also posted similar gains.

PowerShares Dynamic Semiconductor

(PSI) - Get Report

, which tracks the Dynamic Semiconductor Intellidex of 30 chipmaker companies, was a prominent leader in Tuesday morning action with a gain of 3.2%. The

SPDR S&P Semiconductors

(XSD) - Get Report

gained 2%.

Banking stocks gained on hopes that the financial regulatory bill will pass in the senate after two more Republican senators said they would back the legislation. The

Regional Bank HOLDRS


gained 2.8%. The ETF has concentrated investments in

JP Morgan

(JPM) - Get Report


Wells Fargo

(WFC) - Get Report

, both of which moved in lockstep on Tuesday to end higher by 3.2%.


United States Oil Fund

(USO) - Get Report

surged 2.8%, as oil prices climbed past $77 on Tuesday. Energy sector funds such as

SPDR Energy

(XLE) - Get Report

also gained after


(CVX) - Get Report

said it would beat earnings estimates, boosting interest in oil stocks.

-Reported by Shanthi Venkataraman in New York.

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