The United States (US) stock market remained steady on Tuesday after the major averages rebounded from last week's selloff.
In extended trade, Oracle jumped 9% after reporting better-than-expected quarterly results and announcing a partnership with Amazon Web Services to provide database services.
In regular trading on Monday, the Dow rose 1.2%, while the S&P 500 and Nasdaq Composite both rose 1.16%. All 11 S&P sectors advanced, led by consumer discretionary, industrials and technology.
The move was fueled by expectations that the Federal Reserve (FED) will begin cutting interest rates this month overshadowing concerns about a slowing economy.
Markets are also looking ahead to US inflation data this week for further clarity on the rate path.
Chip stocks such as Nvidia (3.5%), Broadcom (2.8%), AMD (2.8%) and SMCI (6.1%) led the rebound. Palantir Technologies also rose 14.1% following news that it would be added to the S&P 500.
