U.S. stocks closed sharply higher on Tuesday with the Nasdaq Composite notching its biggest daily percentage-point gain since April following a subdued inflation print that bolstered hopes for Federal Reserve rate cuts. The S&P 500 SPX gained 84.15 points, or 1.9%, to 4,495.70 points, according to preliminary closing data from FactSet. The Nasdaq Composite COMP gained 326.64 points, or 2.4%, to 14,094.38, closing outside of correction territory after entering it roughly three weeks ago. The Dow Jones Industrial Average DJIA gained 489.83 points, or 1.4%, to 34,827.70. Meanwhile, the Russell 2000 RUT, an index of small-cap stocks, rose 91.25 points, or 5.3%, to 1,796.70, its biggest daily advance since November 2022, according to FactSet data. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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