U.S. Stocks Up Firmly In Positive Territory, Look Set To End On High Note

(RTTNews) - U.S. stocks are turning in a fine performance on Tuesday, extending gains from the previous session, on hopes the Federal Reserve will be less aggressive with rate hikes after data showed a weaker than expected pace of growth in U.S. manufacturing and construction sector activity.

Data showing a bigger than expected drop in job openings in the U.S. in the month of August is further supporting speculation that rate hikes from now may not be any significantly aggressive.

The major averages are all up with impressive gains. The Dow is up 717.42 points or 2.43 percent at 30,208.31, about 100 points off the day's high. The S&P 500 is at 3,777.59, up 99.16 points or 2.7 percent, while the Nasdaq is rising 320.51 points or 2.97 percent at 11,135.94.

Salesforce.com, Caterpillar, Boeing, Goldman Sachs, JP Morgan Chase, Walt Disney, Chevron, Ameican Express, Nike, Microsoft and IBM are up 3 to 5.7%.

Shares of social commerce marketplace Poshmark Inc are up 13 percent after the fashion marketplace agreed to a $1.2 billion sale to South Korean internet company Naver.

Rivian Automotive Inc. shares surged 12.7 percent after the company announced that it produced 7,363 electric pickups and SUVs during the third quarter of 2022.

Twitter shares are climbing nearly 13 percent, riding on a report saying Elon Musk is planning to go through with the acquisition of the company at the originally agreed-upon price of $54.20 per share.

Travel stocks Norweginan Cruise Line, Royal Carbbean, Carnival, Delta Air Lines and American Airlines are all up with strong gains.

General Motors is gaining more than 8 percent after the company reported a 24% rise in sales in the third quarter.

Ford Motor Company shares are up nearly 7 percent after a group reported a 16% increase in third-quarter sales compared with a year earlier.