new York Surprisingly strong economic data pushed Wall Street into the black on Tuesday. The Dow Jones index of standard values closed 0.6 percent higher at 33,926 points. The tech-heavy Nasdaq advanced 1.7 percent to 13,555 points. The broad S&P 500 gained 1.1 percent to 4378 points.
US industry surprisingly saw an increase in orders in May. Business with new single-family homes has also picked up strongly in the United States. US consumer confidence data was also the best since early 2022. According to analysts, investors interpreted the numbers as an indication that the US Federal Reserve is getting closer to its goal of curbing inflation with rate hikes without stalling the economy. “Markets are on the lookout for any clue that could clear the ambiguity over future Fed interest rate policy,” said Peter Andersen, founder of wealth manager Andersen Capital Management.
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