Dow Rallies Nearly 400 Points As Optimism Returns To Wall Street

Sentiment turned around on Tuesday, as investors speculated on slowing inflation and a softer approach from the Federal Reserve towards the year's end. The Dow rose 397 points, while the Nasdaq also saw a triple-digit pop, and the S&P 500 bagged a comfortable win of its own. Retail saw an upbeat day after several big names including Best Buy (BBY) and American Eagle Outfitters (AEO) surged after earnings. Bond yields, meanwhile, receded amid the optimism, with the 10-year Treasury yield falling back to 3.76%. 

The Dow Jones Industrial Average (DJI - 34,098.10) gains 397.8 points or 1.2% for the day. Salesforce (CRM) paced the gainers with a 3% win. Walt Disney (DIS) led the laggards with a 1.4% loss.

The S&P 500 Index (SPX - 4,003.58) added 53.6 points, or 1.4% for the day, while the Nasdaq Composite Index (IXIC - 11,174.41) fell 149.9 points or 1.4%.

Lastly, the Cboe Volatility Index (VIX - 21.29) shed 1.1 points or 4.8% for the session.





Investors were able to brush off this week's news that the Organization of the Petroleum Exporting Countries (OPEC), including Saudi Arabia, may start increasing oil production soon, sending the liquid gold higher. December-dated crude rose 91 cents, or 1.14%, loss to trade at $80.95 per barrel.

Gold just eked out a win to snap a four-session losing streak as the U.S. dollar's rebound began to slow. December-dated gold added 30 cents or roughly 0.02%, to settle at $1,739.90 an ounce.

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