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US stocks closed higher across the board on Tuesday as investors welcomed a rebound in tech and a pullback in surging oil prices, putting the focus back on interest rates and the state of the US economy.
The Nasdaq Composite (^IXIC) rose around 1.5% as tech megacaps recouped the previous session’s losses. The benchmark S&P 500 (^GSPC) stepped up around 1% to close within striking distance of its previous record high. The Dow Jones Industrial Average (^DJI) edged up roughly 0.3%.
Chipmaker Nvidia (NVDA) led the bounce back in stocks, rising another 4% on Tuesday to close out its fifth straight day of gains amid continued bullishness around artificial intelligence.
Other "Magnificent Seven" stocks also regained ground lost amid recent negative headlines, with Amazon (AMZN), Apple (AAPL), and Alphabet (GOOG, GOOGL) all finishing the session firmly in the green.
Meanwhile, oil prices retreated as Mideast tensions somewhat cooled. Prices also came under pressure after China failed to roll out another large stimulus package on Tuesday, a surprise to investors hoping to add more fuel to the unprecedented rally.
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