new York Strong business figures from some corporations encouraged investors to enter the US stock market. The standard value index Dow Jones closed 1.3 percent higher on Tuesday at 32,654 points. The tech-heavy Nasdaq advanced 2.8 percent to 11,984 points. The broad S&P 500 gained two percent to 4088 points. The sell-off of the past few weeks has exhausted the sellers, said financial market expert Mimi Duff from the consulting firm GenTrust. “Therefore, at any sign of good news, a rebound is possible.”
This also included the prospect of an end to the lockdowns in China, which had slowed down the global economy in recent weeks. The hope of an increasing demand for raw materials from top buyers increased the price of the industrial metal copper by 1.4 percent to $9367 per ton.
In addition, a relaxation of the strict requirements for Chinese technology groups beckoned. This helped US-listed online retailer Alibaba and Pinduoduo to gain 6.4 and 6.1 percent, respectively.
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