The S&P 500 had its biggest one-day gain in almost three months and Treasury yields dropped on Tuesday as traders bet data showing signs of a slowdown in the labour market would ease pressure on the Federal Reserve to further raise interest rates this year.
Wall Street’s benchmark index closed 1.5 per cent higher, the third successive session of gains for the gauge and its biggest daily climb since early June, propelled by a rally in megacap tech stocks. The tech-focused Nasdaq Composite rose 1.7 per cent, its largest one-day increase in a month.
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