Dow Jones Industrial Average rises 2.27 points
The Dow closed 2.27 points higher to 27,995.60. The S&P 500 advanced 0.5% to 3,401.20. The Nasdaq Composite rose 1.21% to 11,190.32. The S&P 500 and Nasdaq rose on the back of broad market gains and solid economic data.
U.S. and Chinese data top estimates
The Empire State Manufacturing index came in at 17 for September, rebounding from a print of 3.7 in August. Economists polled by Dow Jones expected the index to come in at 7. Meanwhile, China reported its first retail sales increase for the year. The country’s National Bureau of Statistics said Chinese retail sales rose 0.5% in August.
Tech rises with the rest of the market
Shares of Tesla popped 7%. Facebook, Amazon, Netflix and Alphabet also posted gains. However, other parts of the market participated in Tuesday’s move higher. Real estate, materials, utilities and industrials all rose along with health care.
What happens next?
The Federal Reserve is set to deliver its latest decision on monetary policy. The latest figures on U.S. retail sales are also scheduled for release.
SOURCE : https://www.cnbc.com/2020/09/15/what-happened-to-the-stock-market-on-tuesday-stocks-rise-as-tech-leads-broad-gains.html