US stocks end sharply higher on rate optimism (Video)

[Applause] U.S stocks ended sharply higher on Tuesday after a drop in monthly job openings fueled expectations that the U.S federal reserve would pause its interest rate hikes the Dow gained just under one percent while the S P 500 jumped nearly one and a half percent and the NASDAQ surged one and three quarters percent the strong gains came after the labor Department's job openings and labor turnover survey or joltz report showed job openings fell for a third straight month in July signaling a loosening labor market but Stephanie Lang Chief investment officer at Hamrick Berg wealth management says fewer job openings are just one part of the equation when it comes to achieving the fed's goal of two percent inflation the jolts data that came out today it was the lowest number of job I've been in since March of 2021 so starting to see a little bit of loosening there but it's still incredibly strong so while I think the the Market took a sigh of relief to to say okay this is really starting to play out but it's it's really just lower job openings and not you know uptick in the unemployment rate because that's what really needs to happen to orchestrate a soft Landing among individual movers Mega cap tech stocks led the way with Tesla rallying more than seven percent and chip maker Nvidia climbing more than four percent with more than 33 billion dollars worth of shares traded in each shares of alphabet gained nearly 3 percent after the company unveiled fresh artificial intelligence tools and Partnerships including with Nvidia at its Google next conference in San Francisco and Verizon and at T each Rose more than three percent after City upgraded the telecom companies to buy from neutral Focus now turns to the personal consumption expenditures index the fed's preferred inflation gauge which is due on Thursday followed by Friday's non-farm payrolls report offering more clarity on the state of the labor market