Wall Street reacted positively after President Donald Trump postponed the implementation of 50% tariffs on European Union goods.
The S&P 500 surged by 2% on Tuesday, with gains accelerating following reports that exceeded expectations concerning US consumer confidence. The Dow Jones Industrial Average increased by 1.8%, while the Nasdaq Composite climbed by 2.5%.
These gains more than compensated for losses experienced on Friday, when Wall Street faced a downturn after Trump announced the European Union tariffs. Nvidia emerged as a significant contributor to the rise of the US stock market. Meanwhile, in the bond market, Treasury yields have softened.
On Tuesday:
The S&P 500 climbed 118.72 points (2%) to reach 5,921.54.
The Dow Jones Industrial Average increased by 740.58 points (1.8%) to 42,343.65.
The NASDAQ Composite rose by 461.96 points (2.5%) to hit 19,199.16.
The Russell 2000 Index for small-cap stocks gained 50.55 points (2.5%), reaching 2,090.40.
This year:
The S&P 500 is up by 39.91 points, translating to a 0.7% increase.
The Dow has seen a decline of 200.57 points, or 0.5%.
The NASDAQ has decreased by 111.63 points, equating to a 0.6% drop.
The Russell 2000 has fallen by 139.76 points, representing a 6.3% decline.
Source: apnews.com