Stocks staged an impressive comeback on Tuesday, putting an end to a series of consecutive losses, as investors closely analyzed recent economic indicators that underscored the resilience of the economy.
Leading the charge were tech stocks, with the Nasdaq Composite surging by 1.7%. The S&P 500 also witnessed a notable rise of 1.1%, while the Dow Jones Industrial Average recorded a modest gain of 0.6%.
The renewed optimism follows a string of down days for the Dow, which experienced six consecutive declines, while the Nasdaq saw losses in five out of the last six sessions.
Morning data released on Tuesday revealed a rebound in home prices, signaling a strong housing market amidst limited resale supply. Simultaneously, Americans expressed increased confidence in the economy, despite the Federal Reserve’s indication of one or two more interest rate hikes this year.
Market participants remain vigilant for any factors that could impact the central bank’s decision-making leading up to its July meeting. Of particular interest is the economy’s ability to withstand concerns of a potential recession triggered by the Fed’s rate hike campaign.
As the quarter and the first half of 2023 draw to a close, investors are expected to engage in significant buying and selling activities to rebalance their asset allocations, setting the stage for an eventful week in the markets.
Featured Image: Freepik
Author Kristen Moran 
