The Dow and S&P 500 snapped their multi-day losing streaks, as U.S. markets brushed off rising interest rates. Investors are buying into the recent dip in tech, and the Nasdaq also added a solid 210 points in Tuesday's session. Meanwhile, big-cap tech backed the broader market, with Amazon.com (AMZN), Apple (AAPL), and Meta Platforms (FB), all jumping at least 1.5%.
The Dow Jones Average (DJI - 36,252.02) added 183.2 points or 0.5% for the day. Boeing (BA) led the gainers today, adding 3.2%, and IBM (IBM) paced the laggards with a 1.6% fall.
The S&P 500 Index (SPX - 4,713.07) climbed 42.8 points or 0.9% for the day. Meanwhile, the Nasdaq Composite (IXIC -15,153.45) jumped 210.6 points higher, or 1.4%, for today's session.
Lastly, the CBOE Volatility Index (VIX - 18.41) shed 1 point or 5.1% for the day.
OIL JUMPS HIGHER AS DEMAND OUTLOOK STABILIZES
Oil prices managed to mark a two-month high this afternoon, as the broader global demand outlook remains stable. February-dated oil added $2.99, or almost 3.8%, to finish at $81.22 per barrel.
Gold futures climbed higher for a third session, after comments from Federal Reserve Chairman Jerome Powell at his second-term confirmation hearing failed to sway investors in either direction. February-dated gold added $19.70, or 1.1%, to close at $1,818.50 per ounce.
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