US stocks jump as investors look to continue October rally ahead of key Fed policy decision

US stocks advanced Tuesday with investors aiming to build on a strong October performance. 

  • US stocks rose Tuesday as November trade got underway. 
  • Investors were working on building on October’s record performance. 
  • Uber and China were in focus during Tuesday’s session. 

Wall Street’s main indexes climbed as November trade got underway following a record performance in October including the best October ever and the best month since 1976. 

Investors were preparing for Wednesday’s likely decision by the Federal Reserve to raise interest rates by another 75 basis points. But stocks have been running higher in recent sessions on anticipation that the Fed will indicate a downshift in the size of further rate hikes to assess developments on inflation and the broader economy. 

Stocks found support Tuesday on speculation that China may be considering its strict zero-COVID policy that has sent businesses and residents under lockdowns to curb infections. Meanwhile, tech got a boost from Uber stock, which soared after the ride-sharing platform said firmer demand lead to a revenue surge.

Here’s where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday: 

Here’s what else is happening today:

In commodities, bonds, and crypto:

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