NEW YORK, New York - U.S. stocks closed broadly higher Tuesday despite lackluster retail sales.

Retail sales rose in September, but by less than expected. "Advance estimates of U.S. retail and food services sales for September 2025, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $733.3 billion, up 0.2 percent (±0.4 percent)* from the previous month, and up 4.3 percent (±0.5 percent) from September 2024," the U.S. Census Bureau said in a statement Tuesday.

"The. Total sales for the July 2025 through September 2025 period were up 4.5 percent (±0.4 percent) from the same period a year ago. The July 2025 to August 2025 percent change was unrevised from up 0.6 percent (±0.2 percent)," the statement added.

Driving the markets higher were increasing expectations of a December rate cut by the Fed. Polls now show 80 percent of economists are forecasting a cut. All three major benchmarks finished in positive territory as investors also responded to easing Treasury yields, strong corporate earnings momentum and renewed confidence in the broader economic outlook. Gains were widespread, though blue-chip stocks took the spotlight with their strongest advance in weeks.

Dow Surges More Than One Percent

The Dow Jones Industrial Average delivered the standout performance of the session, jumping 663.93 points, or 1.43 percent, to close at 47,112.20. The index traded between 46,341.35 and 47,182.90, lifted by financials, industrials and consumer bellwethers. The rally reflected strengthened risk appetite and optimism over resilient U.S. demand.

Standard and Poor's 500 Pushes to Fresh Gains

The S&P 500 advanced 60.76 points, or 0.91 percent, finishing the day at 6,765.88. The benchmark moved within a range of 6,659.98 to 6,776.40, supported by gains in technology, healthcare and communication services. Analysts noted that the index continued to benefit from steady corporate earnings guidance and the perception that interest-rate pressures may be easing.

Nasdaq Edges Higher as Tech Outperforms Moderately

The Nasdaq Composite also recorded a strong finish, rising 153.59 points, or 0.67 percent, to close at 23,025.59. While its advance lagged the broader market slightly, the tech-heavy index was buoyed by semiconductor stocks and large-cap platforms that continued to draw sustained investor interest.

Euro Advances as Pound Strengthens; Yen Firms While Commodity Currencies Mixed

The world's major currencies traded in a narrow but dynamic range on Tuesday, with the euro and British pound posting firm gains against the US dollar while the yen strengthened modestly as investors reassessed interest-rate expectations. Commodity-linked currencies were mixed, with the Australian and New Zealand dollars edging higher and the Canadian dollar little changed.

Euro Rises as Dollar Softens

The euro strengthened in late trade, rising 0.39 percent to 1.1565 against the US dollar. The move came as traders digested improving eurozone sentiment indicators and pared back expectations of aggressive future US rate increases. Analysts said the euro's advance reflected both regional stabilisation and broad-based dollar softness.

Yen Gains Ground

The US dollar slipped against the Japanese yen, falling 0.51 percent to 156.11, as safe-haven demand and lower Treasury yields supported the Japanese currency. Market participants continued to watch for signs of intervention from Tokyo, although Tuesday's move was viewed as driven primarily by global macro flows rather than domestic policy action.

Canadian Dollar Steady

The US dollar eased slightly against the Canadian dollar, slipping 0.05 percent to 1.4099. Oil price stability offered limited support to the loonie, but investors remained cautious ahead of Canadian inflation data due later in the week.

Pound Pushes Higher

The British pound posted the strongest major-currency gain of the session, rising 0.48 percent to 1.3167 against the US dollar. Sterling continued to benefit from expectations that the Bank of England will maintain a firmer monetary stance relative to some of its peers.

Swiss Franc Firms Slightly

The US dollar dipped 0.06 percent against the Swiss franc to 0.8075, maintaining the franc's position as one of the market's most stable safe-haven currencies.

Australian and New Zealand Dollars Edge Up

The Australian dollar nudged higher, rising 0.07 percent to 0.6467 amid stable commodity sentiment and firmer Asian equities.

The New Zealand dollar also advanced, climbing 0.15 percent to 0.5618, supported by stronger risk appetite and modest improvements in domestic economic indicators.

Global Markets Mixed as Canada, UK and Europe Advance, Asia Diverges in Tuesday Trade

Global equity markets delivered a broadly positive yet uneven performance on Tuesday, with European benchmarks powering ahead while major Asia-Pacific indices split between modest gains and notable retreats. Investors continued to balance optimism over improving corporate earnings against caution surrounding shifting interest-rate expectations and geopolitical uncertainty.

TSX Rises on Energy and Financial Strength

Canada's S&P/TSX Composite Index added 296.30 points, or 0.97 percent, to settle at 30,900.65. Energy producers and major banks drove the index higher as commodity prices stabilised and corporate earnings remained broadly supportive.

UK and Europe Closes Firmly Higher

UK and European markets strengthened across the board, led by a solid advance on London's FTSE 100.

The FTSE 100 climbed 74.62 points, or 0.78 percent, to finish at 9,609.53, driven largely by gains in mining and consumer-oriented stocks. The index traded between 9,521.45 and 9,615.57 during the session.

Germany's DAX also rallied, rising 225.45 points, or 0.97 percent, to close at 23,464.63, helped by cyclical sectors and strong industrial sentiment across the eurozone. Paris followed suit, with the CAC 40 up 66.13 points, or 0.83 percent, ending the day at 8,025.80.

The broader Euro Stoxx 50 gained 45.24 points, or 0.82 percent, closing at 5,573.91, while the Euronext 100 added 11.09 points, or 0.66 percent, to finish at 1,681.10.

Belgium's BEL 20 rose more modestly, adding 9.97 points, or 0.20 percent, to settle at 5,008.06.

Asia and Pacific Sees Mixed Momentum

Asian markets were divided, reflecting regional economic concerns and currency volatility.

Hong Kong's Hang Seng Index advanced 178.05 points, or 0.69 percent, to close at 25,894.55, supported by gains in technology and property developers.

However, Singapore's STI slipped 11.00 points, or 0.24 percent, to 4,485.63, as banks and transport stocks weighed on the benchmark.

In Australia, the S&P/ASX 200 posted a mild increase of 11.90 points, or 0.14 percent, closing at 8,537.00. The wider All Ordinaries Index rose 23.80 points, or 0.27 percent, to 8,824.20, extending its recent upward drift.

India's S&P BSE Sensex moved lower, shedding 313.70 points, or 0.37 percent, to finish at 84,587.01, pressured by profit-taking in financials and consumer stocks.

Indonesia's IDX Composite declined 48.37 points, or 0.56 percent, to 8,521.88, while Malaysia's FTSE Bursa Malaysia KLCI fell 5.83 points, or 0.36 percent, closing at 1,611.74.

New Zealand's NZX 50 also edged lower, down 19.42 points, or 0.14 percent, to 13,480.43.

South Korea's KOSPI managed a rise of 11.72 points, or 0.30 percent, ending at 3,857.78, aided by semiconductor strength.

Taiwan led the region with a strong advance: the TWSE Weighted Index surged 407.93 points, or 1.54 percent, finishing at 26,912.17, fuelled by chip-sector momentum and foreign inflows.

Israel's TA-125 declined 21.62 points, or 0.63 percent, to 3,389.36, while Egypt's EGX 30 climbed 177.20 points, or 0.45 percent, closing at 39,902.50.

South Africa's Top 40 USD Net TRI Index gained 41.26 points, or 0.65 percent, to 6,407.18.

China Sees Broad Upside

Mainland China also closed firmer. The SSE Composite Index added 33.26 points, or 0.87 percent, finishing at 3,870.02 as consumer and industrial shares lifted sentiment.

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