U.S. equity markets recorded broad-based gains on Tuesday after Federal Reserve officials reiterated their confidence in the economy’s underlying fundamentals. The S&P 500 climbed 0.8% while the tech-heavy Nasdaq Composite rose nearly 1.1%, led by semiconductor and industrial manufacturing shares.
Economic data released earlier in the session confirmed that non-farm labor productivity expanded at an annualized rate of 2.9%, outperforming consensus estimates and easing lingering concerns regarding wage pressure inflation.
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