U.S. stocks rose Tuesday, resuming their November rally, as comments from a Federal Reserve official raised hope that the central bank may not need to raise interest rates further.
The Dow Jones Industrial Average added about 83 points, or 0.2%, while the S&P 500 inched higher by 0.1%. The tech-heavy Nasdaq Composite gained 0.3%.
Fed Governor Christopher Waller had expressed confidence earlier Tuesday that policy is "currently well positioned" to slow the economy and bring inflation back to 2%. His commentary comes ahead of the Federal Open Market Committee's policy meeting on Dec. 12-13. Markets generally expect the committee to keep its key lending rate steady.
Boeing helped lift the Dow on Tuesday, adding 1.4%, while Dow-member retailers Nike and Walmart gained 0.7% and 1.2%, respectively. The S&P 500 got a lift from Newmont Corporation and Synchrony Financial, which were higher by 6.2% and 5.1%, respectively.
Stocks have rallied this month. The Dow and S&P 500 are on pace to finish the month about 7.2% and 8.6% higher, respectively. The Nasdaq has climbed 11.1% in November.
Source : CNBC
