The S&P 500 edged higher on Tuesday, along with the NASDAQ Composite, as investors scooped up tech shares following a recent dip and investors tried to regain their footing after a tough September start.
The Dow Jones Industrial index stumbled 214.21 points to commence Tuesday trading at 40,615.38.
The much-broader index eked up 5.9 points to 5,476.95.
The NASDAQ climbed 79.85 points, or 1.2%, to 16,964.45
Nvidia and Amazon gained 0.6% and 2.4%, respectively. Microsoft shares added 2.4%. Cloud platform company Oracle surged 10% after posting fiscal first-quarter results that topped expectations and announcing a partnership with Amazon Web Services to provide database services.
Investors are also betting that a widely anticipated interest rate cut at the Federal Reserve’s Sept. 17-18 meeting could help assuage concerns over a weakening economy.
Traders have their eyes on two key economic reports that will likely be the next catalysts for stocks. The consumer price index report for August is due out Wednesday, followed by the producer price index on Thursday.
Prices for the 10-year Treasury gained, lowering yields to 3.69% from Monday’s 3.71%. Treasury prices and yields move in opposite directions.
Oil prices took on $2.40 to $66.31 U.S. a barrel.
Gold prices brightened $1.80 to $2,534.50.
