Overview
- The Dow jumped 664 points, the S&P 500 rose 0.9% and the Nasdaq gained 0.7% on Tuesday, with futures and early Wednesday trading pointing to a fourth straight advance.
- U.S. 10-year Treasury yields hovered near 4% after a brief dip below that level, helping ease pressure on equities as borrowing costs moderated.
- New readings showed initial jobless claims fell to 216,000 and core capital goods orders rose 0.5% in September, while Chicago PMI dropped to 36.3, keeping attention on the Fed’s Beige Book and other delayed reports.
- Tech remained a key driver: Alphabet notched a record close and Nvidia rebounded, as reports of Meta considering Google’s TPU chips weighed on some semiconductor shares.
- Global markets echoed Wall Street’s upswing, with Japan and South Korea rallying and India’s Sensex surging 1,022 points as the Nifty ended near a record high.