Stocks experienced gains on Tuesday as investors awaited an upcoming update on inflation, hoping for a less significant increase that would alleviate concerns for the general public.

The S&P 500 climbed by 0.7%, or 29.73 points, reaching 4,439.26. The Dow Jones Industrial Average saw a gain of 0.9%, or 317.02 points, reaching 34,261.42. The Nasdaq composite also rose by 0.5%, or 75.22 points, reaching 13,760.70.

Activision Blizzard stood out with a significant 10% jump, contributing to the market’s positive performance, the Associated Press reported.

This surge followed a judge’s ruling that allowed Microsoft to proceed with its $69 billion acquisition of the video game maker.

Salesforce played a significant role in driving the Dow’s performance, as it increased by 3.9% due to announced price hikes for its products.

Additionally, Amazon’s first day of its annual Prime Day sales event contributed to the market’s upward momentum, with the company’s stock rising by 1.3%.

Written by staff