Major US stock markets closed higher on Tuesday as investors evaluated new economic data released throughout the day alongside updates on the country's trade policy.
The Organization for Economic Co-operation and Development (OECD) revised its growth outlook for the US economy, now forecasting a growth rate of only 1.6%. Additionally, it was reported that new orders for manufactured goods fell by 3.7%, totaling $594.6 billion in April. In the same month, job openings across the country reached 7.4 million.
By the end of trading, the Dow Jones had risen by 214 points, or 0.51%. Nvidia saw an increase of 2.80%. The Nasdaq 100 also experienced growth, climbing by 0.79%, with ON Semiconductor soaring by 11.31%. Similarly, the S&P 500 gained 0.58%, with Dollar General at the forefront, jumping 15.88%.
In currency markets, the euro fell by 0.64% against the dollar, trading at $1.13693 as of 4:01 pm ET.
