Wall Street Keeps Greening, What Factors?

<p>&nbsp;Wall Street continued to post a recovery with bigger gains on Tuesday after dismal economic data undermined expectations for an interest rate hike by the Federal Reserve (Fed).</p><p><br /></p><p>The S&amp;P 500 posted its biggest one-day gain since early June, while the Nasdaq recorded its strongest session since late July, seeing both indexes close at more than two-week highs.</p><p><br /></p><p>The jump came after US job openings survey (JOLTS) data showed a third straight month of decline in July.</p><p><br /></p><p>Investors were also shown a report of US consumer confidence that fell less than expected in August.</p><p><br /></p><p>The 10-year US treasury yield fell sharply to 4.11%, supporting growth stocks, with Nvidia gaining 4.2% to close higher.</p><p><br /></p><p><br /></p><p>Tesla, on the other hand, jumped 7.7%, thus joining Nvidia as the main leader on Wall Street.</p><p><br /></p><p>Following that, the S&amp;P 500 rose 1.45% to end the session at 4,497.63, while the Nasdaq jumped 1.74% to 13,943.76 and the Dow Jones Industrial gained 0.85% to 34,852.67.</p><p><br /></p><p>The US30 index was higher at 34,866 in the Asian session.</p><p><br /></p><p>Investors' focus will next be on the publication of private sector ADP employment data and the second reading of US gross domestic product (GDP) for the second quarter of 2023 in the New York session today.</p>