Stocks, Bonds Rally With Focus on Rate Outlook: Markets Wrap
- The US dollar snapped a three-day climb; oil advanced
- A batch of upbeat earnings buoyed sentiment during the session
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US stocks rallied on Tuesday as investors adjusted their expectations in response to Federal Reserve officials indicating that they’ll continue to raise interest rates but are open to slowing their tempo.
The S&P 500 closed at its highest level since Sept. 12. The Nasdaq 100 rose more than 1%. Upbeat earnings from a handful of retailers including Best Buy Co. and Abercrombie & Fitch Co. boosted sentiment during the trading session. Nordstrom Inc., which reported lackluster results after markets closed, fell in late trading.