US stocks moved higher on Tuesday as investors welcomed a rebound in tech and a pullback in surging oil prices, putting the focus back on interest rates and the state of the US economy. The Nasdaq Composite rose around 1.2% as tech megacaps recouped the previous session's losses. The benchmark S&P 500 stepped up around 0.7%, while the Dow Jones Industrial Average edged up roughly 0.2%.
Meanwhile, Nvidia built on a closing gain, rising another 4% on Tuesday, as the chip heavyweight's partner Hon Hai pointed to "crazy" AI demand. Investors also turned their attention to Fed policy with markets still grappling with busted hopes for jumbo interest rate cuts. New York Fed president John Williams told the Financial Times on Tuesday that Federal Reserve policy is "well positioned" to nail a "soft landing" for the economy.
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Stock market today: S&P 500, Nasdaq jump for 4th straight day as tech leads stocks higherWholesale inflation and jobless data set the stage for a Fed rate cut next week.
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Stock market today: US stock futures tread water in wait for Fed's rate callInvestors are bracing for a crucial week dominated by the Fed's first interest-rate cut in four years.
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Stock market today: Stock rally loses steam as S&P 500, Dow slip from recordsNow that the Fed has started cutting rates, the economy has taken to the fore for investors.
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