Stock market news live updates: Stocks soar as October relief rally intensifies

U.S. stocks charged sharply higher Tuesday as Wall Street built on momentum from a broad market rally that began in the previous trading session.

The benchmark S&P 500 surged 2.9%, placing the index on track for its largest two-day gain since March 2020 and its strongest daily breadth reading since late 2018, per data from Bespoke Investment Group. The Dow Jones Industrial Average jumped 750 points, or 2.5%, back past 30,000, and the technology-heavy Nasdaq Composite soared 3.2%.

Investors cheered on a fresh labor market reading that showed U.S. job openings slid by the most in nearly two and a half years in August — a welcome sign for Federal Reserve officials trying to tamp down outsized labor demand in the fight against inflation. The Labor Department said in its monthly Job Openings and Labor Turnover Survey (JOLTS) that job openings dropped 1.1 million to 10.1 million on the last business day of August.

Bonds rallied alongside stocks on Tuesday, with Treasury yields falling for…

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