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US Stocks rose Tuesday morning as Wall Street attempts to get rid of covid-linked fears as China’s policies tend to further restrictions. Earnings reports also attract significant attention of traders and investors.
The Dow Jones surged 282 points, or 0.84%. The S&P 500 progressed 0.56% on the back of the performance of Best Buy shares, which climbed nearly 9% after the company hiked its 2023 fiscal expectations to beat earnings estimates.
Nasdaq edged higher 0.08% but was impacted by Zoom and Dollar Tree, which slipped about 9% each after reporting disappointing earnings and a lower-than-expected outlook.
On Tuesday also, several Fed officials are eyed for further comments including Kansas City Fed President Esther George and St. Louis Fed President James Bullard.
Economic reports due out include the Philadelphia Fed’s nonmanufacturing business outlook survey and the Richmond Fed’s manufacturing index.
Investors are also watching for earnings reports from HP Inc and Nordstrom after the bell. The stock market will be closed on Thursday for the Thanksgiving holiday and will close early on Friday.
