In the final days of what has been a challenging August for the market, investors flocked back to tech stocks, helping the Nasdaq Composite gain more than 1% on Tuesday.
The Dow Jones Industrial Average gained by 292 points or 0.8% while the S&P 500 increased by 1.4%. The tech-focused Nasdaq rose 1.7%.
With a gain of more than 4%, chipmaker Nvidia led the march of advancing tech stocks. Shares of Tesla, Apple, Microsoft, Apple, and Meta Platforms were all trading higher. Following the announcement of fresh U.S. economic statistics, the sector appeared to benefit from declining bond yields.
Source (CNBC)
