Tech Stocks Surge Amid Eased Treasury Yields and Rate Cut Prospects

Wall Street rebounded as investors shifted back to technology stocks following eased Treasury yields. The tech sector saw significant gains, led by Palantir Technologies and Palo Alto Networks. Future insights are anticipated from upcoming inflation data and the Federal Reserve's interest rate policy stance.

Wall Street experienced a rebound on Tuesday, recovering some of its previous session losses as investors gravitated back to technology stocks. The shift in momentum came amid eased Treasury yields and anticipation of upcoming inflation data.

The S&P 500's information technology index was the standout performer, rising 2.1%, bolstered by strong performances from Palantir Technologies and Palo Alto Networks. These gains supported a wider recovery for the Nasdaq and S&P 500, which edged above last week's closing levels.

Investor attention remains focused on the U.S. Federal Reserve's potential interest rate cuts. Market expectations incline towards a 25 basis-point cut in November, contingent on forthcoming economic indicators such as the consumer price index.

(With inputs from agencies.)