Dow rises 180 points, Nasdaq rallies for second day as tech shares rebound; European stocks close higher as investors await U.S. inflation data
U.S. stocks rose again on Tuesday as Wall Street appeared to find its footing after a rocky start to the new year.
The tech-heavy Nasdaq Composite gained 1.41% to 15,153.45, building on an afternoon rally from the previous session that snapped a four-day losing streak. The S&P 500 rose 0.92% to 4,713.07, while the Dow Jones Industrial Average added 183.15 points, or 0.51%, to close at 36,252.02.
Other notable gainers included Illumina, which rose 17% after the genomic sequencing company issued a 2022 revenue outlook that was ahead of consensus.
Elsewhere, shares of Exxon Mobil rose more than 4% as U.S. oil prices topped $80 per barrel.
The pan-European Stoxx 600 closed up 0.8%, partly recouping Monday’s 1.8% decline. Tech stocks added 1.9% to lead gains as investor fears over higher interest rates appeared to cool slightly.
Swedish cloud computing firm Sinch surged nearly 10% after Goldman Sachs initiated coverage of the company’s stock with a “buy” rating.
Source: CNBC, Investing.com