Mumbai, July 29 -- Most of Wall Street rose Tuesday even though stocks of computer chipmakers continued to tumble worldwide. Oil prices eased further from the two-month high they hit last week.

The S&P 500 added 0.2% but the modest move masked big swings underneath the surface. The Dow Jones Industrial Average jumped 537 points (1%) while the Nasdaq composite slipped 0.2% after briefly dropping 9.3% below its record set last month.

In the oil market, the price for a barrel of Brent crude to be delivered in October fell 4.4% to settle at $82.08. It's been falling since late last week, when the price for a barrel to be delivered in September briefly shot as high as $102. The drop in oil prices helped push traders to trim their bets that t...