US stocks rebounded on Tuesday, with the S&P 500 rising 0.3%, the Nasdaq up 0.9%, and the Dow Jones up 200 points as the market pared earlier losses and rebounded after Monday's sharp sell-off.
Bitcoin's rebound supported risk appetite, while complex AI and software helped stabilize sentiment, with Nvidia up 0.9% and Palantir up 1.9%, although Broadcom fell 1.2% amid profit-taking. The gains were driven less by a string of big tech stocks than previously, but more by a string of high-flying stocks, including Boeing, which surged about 10.2%, Intel, which rose nearly 8.7%, and AppLovin, which gained 4.7%.
Traders remained focused on a busy slate of economic data releases and the pending September PCE report ahead of next week's FOMC decision, with the market still pricing in a high probability of a 25 basis point interest rate cut and using incoming data to refine expectations. Bond yields pushed higher early in the session as the global sovereign curve reset, limiting the recovery. (alg)
Source: Trading Economics
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