U.S. stocks end higher, led by Nasdaq, Tesla gains
Main indexes end up; Nasdaq out front
Cons disc leads S&P 500 sector gainers; Healthcare weakest group
Dollar, gold, crude slip; bitcoin off ~2%
U.S. 10-Year Treasury yield falls to ~4.43%
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U.S. STOCKS END HIGHER, LED BY NASDAQ, TESLA GAINS
All three of the major U.S. stock indexes ended higher on Tuesday, led by gains in Nasdaq .IXIC, as Tesla shares rallied and investors digested comments by Federal Reserve Chair Jerome Powell.
Tesla TSLA.O gained 10.2% after the electric vehicle maker reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter.
Powell, speaking at a conference in Portugal, said the central bank still needs more data before cutting interest rates to ensure that recent weaker inflation readings give a true picture of what is happening to underlying price pressures.
Stocks started the day lower, and drifted higher as the day went on.
Investors have been looking for anything that might help them gauge when the Fed might begin cutting rates, and they eagerly await Friday's monthly U.S. jobs report.
Here is the closing market snapshot:
(Caroline Valetkevitch)
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FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
FACTORS TO CONSIDER HEADING INTO THE NOVEMBER ELECTION -CLICK HERE
HALFTIME RECAP WITH BETS ON MORE SCORING AHEAD - CLICK HERE
FAVOR THOSE ASSETS LESS CORRELATED TO TECH, AI LEADERS - LAZARD - CLICK HERE
THIS WEEK'S LABOR DATA STARTS WITH A JOLT - CLICK HERE
WALL STREET NEAR FLAT AS POWELL SPEAKS - CLICK HERE
EQUITIES MAYBE A RISKY INVESTMENT AMID ELEVATED VALUATIONS, ELECTIONS - GOLDMAN SACHS - CLICK HERE
BENCHMARK TREASURY YIELD'S HEAD STILL ABOVE THE CLOUD - CLICK HERE
EUROPE'S INSURERS WEAK AS ATLANTIC HURRICANE SEASON KICKS OFF - CLICK HERE
Q2 U.S. EARNINGS GROWTH TO RISE 'INTO THE TEENS' - DB - CLICK HERE
INVESTOR POSITIONING IN EUROPE TURNS BEARISH - CLICK HERE
RBC GINGERLY LIFTS S&P 500 YEAR-END TARGET TO 5700 - CLICK HERE
THE PRICE IS RIGHT - CLICK HERE
CAGEY START FOR EUROPE - CLICK HERE
EUROPEAN EQUITY FUTURES RED - CLICK HERE
DECISION DAY FOR FAR RIGHT'S RIVALS - CLICK HERE
Closing snapshot https://tmsnrt.rs/4cKrgvf
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