Stocks climbed for a fourth session on Tuesday as Wall Street parsed through another round of inflation data in search for clues on when the Federal Reserve could start easing monetary policy.
All three major indexes touched new intraday 52-week highs on Tuesday, with the S&P 500 hitting its highest intraday level since January 2022. The tech-heavy Nasdaq and Dow touched their highest intraday levels since April and January of last year, respectively.
Traders will now turn their attention to the Fed’s policy announcement, slated for Wednesday at 2 p.m. ET. Wall Street largely expect the central bank to hold rates steady.