As a result of two economic data that suggested the economy is slowing down enough for the Federal Reserve to cease raising interest rates, stocks ended the day higher on Wall Street.
Tuesday saw the S&P 500 rise 1.5%, which is the most since early June. The Nasdaq increased 1.7% and the Dow gained 292 points.
Consumer confidence declined in August, shocking economists who expected levels to remain stable around the high July figure, according to a survey from the Conference Board, a business research organisation. Jobs available in July decreased more than economists anticipated. After beating Wall Street expectations, Best Buy saw its stock rise. Bond yields decreased.
This Tuesday:
To reach 4,497.63, the S&P 500 increased 64.32 points, or 1.5%.
To reach 34,852.67, the Dow Jones Industrial Average increased by 292.69 points, or 0.8%.
To reach 13,943.76, the Nasdaq composite gained 238.63 points, or 1.7%.
Smaller business index Russell 2000 increased by 26.53 points, or 1.4%, to 1,895.54.
This week:
The S&P 500 is up 2.1%, or 91.92 points.
The Dow has gained 505.77 points, or 1.5%, today.
Increasing by 353.11 points, or 2.6%, the Nasdaq.
The 2.3% increase in the Russell 2000 is 41.91 points.
As for the year:
The 17.1% increase in the S&P 500 is 658.13 points.
The Dow has gained 1,705.42 points, or 5.1%, thus far.
The increase in the Nasdaq is 3,477.27 points, or 33.2%.
134.29 points, or 7.6%, are added to the Russell 2000.