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US equities rose again Tuesday, with the Nasdaq Composite posting its highest close in over three weeks, after weaker-than-expected consumer confidence and job market numbers raised investors’ hopes that a colling economy could help end the Federal Reserve’s interest rate-hiking campaign. Equities also got a boost from stronger-than-expected earnings from retailers including Best Buy and Big Lots. The S&P 500 was up 1.5%, the Dow Jones Industrials Average gained 0.9% while the Nasdaq Composite rallied by a further 1.7%. Elsewhere, European shares rose for the second consecutive session yesterday, with the Euro Stoxx 50 Index surging by 0.8%.
Summary for 30.08.2023
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