Wall Street ended the session sharply higher on Tuesday, buoyed by Apple, Tesla and other mega-cap stocks after strong retail sales in April eased concerns about slowing economic growth.
The S&P 500 index closed up 2.02% at 4,088.85 points. The Dow Jones rose 1.34% to 32,654.59 points. The Nasdaq Composite technology index rose 2.76% to 11,984.52 points.
Ten of the top 11 sectors in the S&P 500 index advanced, with financials, materials, consumer discretionary and technology all up more than 2%.
Investors were encouraged by data that showed a 0.9% increase in US retail sales in April, as consumers bought motor vehicles amid an improvement in supply and frequented restaurants.
The recently battered shares of Microsoft Corp, Apple Inc, Tesla Inc and Amazon advanced between 2% and 5.1% and boosted the S&P 500 and Nasdaq. Another set of economic data showed that US industrial production accelerated 1.1% last month, above estimates of 0.5% and a 0.9% advance in March.
“This is consistent with continued economic growth in the second quarter and not an ongoing recession,” said Bill Adams, chief economist at Comerica Bank in Dallas.
Source: CNN Brasil
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