How major US stock indexes fared Tuesday, 3/12/2024

Stocks rallied to records after some influential Big Tech companies got back in their groove. The S&P 500 rose 1.1% Tuesday to top its all-time high set last week. The Dow Jones Industrial Average gained 0.6%, and the Nasdaq composite jumped 1.5%. All three indexes started the day with losses after a highly anticipated report showed inflation was worse than expected. Treasury yields rose. But the inflation figures weren’t far off expectations, and traders still hope the Federal Reserve will begin cutting interest rates in June. Nvidia rose to break out of its mini-losing streak, and Oracle jumped after reporting stronger profit than expected.