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Dow Jones rises more than 250 points and S&P 500 gains 1%
Stocks rose for a second straight day on Wall Street on Tuesday, as a strong batch of corporate earnings eased concerns about rising interest rates.
The Dow Jones Industrial Average rose 263.90 points, or 0.69%.
The Standard & Poor's 500 rose 1.2%. While the Nasdaq Composite Index rose by 1.59%.
Nearly 20% of S&P 500 companies reported strong earnings Tuesday. Of those companies, 76% beat analysts' expectations, FactSet data shows.
Tuesday's moves come after an upbeat session on Wall Street. Investors have bought into the decline in technology stocks after the recent sell-off in major names like Nvidia, which recently fell on fears of rising inflation and the possibility of higher interest rates.
In this regard, Barclays strategist Stefano Pascal wrote: Stocks have witnessed the best sales in 30 years; However, as AI+Mag7 winners bore the brunt of the final leg of the decline, disappointing gains could accelerate losses, and risk options appear to be cutting them.
