The S&P 500 and the Dow Jones extended fresh record highs on Tuesday as investors proved optimistic following a sharp decline in consumer confidence.
During Tuesday's regular trade, the Dow Jones Industrial Average added 83.6 points, or 0.2%, to finish at 42,208.2, the S&P 500 gained 0.3%, to close at 5,732.9 and the tech-heavy Nasdaq Composite advanced 0.56%, ending at 18,074.52.
Nvidia, a leader in artificial intelligence, saw its stock climb nearly 4% after a regulatory filing revealed that CEO Jensen Huang had concluded his sales of the company’s stock, boosting investor confidence.
However, the rise in stocks came despite U.S. consumer confidence falling sharply in September, with a reading of 98.7, marking the largest one-month decline in over three years.
Meanwhile, Chinese stocks listed in the U.S. stood out on Tuesday, spurred by Beijing’s new stimulus measures aimed at boosting economic growth.
Shares of Alibaba surged 7.9%, while JD.com soared by 13.9%. Industrial giant Caterpillar also saw a near 4% rise, benefiting from optimism around China's economic recovery.
On the bond markets, 10-year rates were at 3.732%, while 2-year rates were at 3.54%.