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Wall Street Closes Higher On Tech Buying as Investors Wait On Inflation Data

October 9, 2024

(Reuters) -Wall Street’s benchmarks finished up on Tuesday, recouping some of the previous session’s losses, as investors bought back in to technology stocks and investors shifted their focus to upcoming inflation data and the start of third-quarter earnings season.

All three of the main indexes suffered a sell-off on Monday, falling roughly 1% each, as they were pressured by surging Treasury yields, escalating Middle East tensions, and a re-evaluation of U.S. rate expectations.

The easing of Treasury yields somewhat on Tuesday, however, meant investors were drawn to high-growth stocks, which benefit from lower debt costs to fuel their growth, such as technology companies.

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