On Tuesday, Wall Street’s major indexes closed in the green, buoyed by a rebound in Nvidia’s shares and anticipation ahead of the Federal Reserve’s policy meeting conclusion. Nvidia’s stock, after initially dipping, surged 1% following the announcement of pricing and shipment plans for its highly anticipated Blackwell B200 artificial intelligence chip. This turnaround, coupled with ongoing bullish sentiment about the economy’s trajectory, contributed to overall market gains. The Dow Jones Industrial Average rose 0.83%, supported by a 2% increase in Home Depot shares and gains of over 1% in McDonald’s and Apple Inc. In the S&P 500, all major industry sectors advanced except for communications services, which experienced a marginal decline after a strong rally on Monday. Energy stocks led gains, driven by rising oil prices.
Investors were preparing for the Federal Reserve’s policy update, with robust inflation data affecting expectations for future rate cuts. While optimism prevailed that the Fed would not spring any surprises, Chair Jerome Powell’s cautious stance on inflation and economic data remained a focal point. Among notable movers, Coinbase Global and miner Riot Platforms experienced declines, while Spire Global shares soared after announcing a collaboration with Nvidia for AI-driven weather prediction. Advancing issues outnumbered decliners on both the NYSE and Nasdaq, with strong trading volumes observed across U.S. exchanges.