Wall St rallies as data point to end of rate hikes

The Dow rose 489.83 points, or 1.43%, to 34,827.7; the S&P 500 gained 84.15 points, or 1.91%, at 4,495.7; and the Nasdaq added 326.64 points, or 2.37%, at 14,094.38.

NEW YORK: The S&P 500 and Nasdaq posted their biggest daily percentage gains since April 27 on Tuesday as softer-than-expected inflation data supported the view that the Federal Reserve may be done raising interest rates.

The small-cap Russell 2000 index jumped 5.4%, outperforming the broader market, while the rate-sensitive S&P 500 real estate sector gained 5.3% and utilities rose 3.9%. All three registered their biggest daily percentage increases since Nov. 10, 2022.