Wall Street stocks rose, supported by economic data that reinforced expectations that the Federal Reserve (Fed) will cut interest rates in December.
All three major US indexes closed in positive territory with the Dow Jones index leading the market.
However, a drop in artificial intelligence (AI) leader Nvidia limited the Nasdaq Composite index's gains.
Nvidia shares fell 2.6%, while the Philadelphia SE Semiconductor Index rose 0.2%.
The Dow Jones Index rose 1.43% to 47,112.45 points, the S&P 500 rose 0.91% to 6,765.89 points, while the technology-focused Nasdaq rose 0.67% to 23,025.59 points.
The latest economic data mostly supports expectations that the Federal Open Market Committee (FOMC) will cut the Fed funds rate by 25 basis points at its December meeting.
However, some official reports were slightly affected by the prolonged government shutdown.
In other developments, the Commerce and Labor Departments each released their September reports on the Producer Price Index (PPI) and retail sales, which showed spending and inflation rates were coming under control.
The latest data from the Conference Board showed consumer confidence fell more than expected, with a near-12% decline in near-term expectations.
Financial markets are now pricing in an 84.7% chance of a rate cut, up from 50.1% last week.
The odds have risen days after dovish statements from New York Fed President John Williams and Fed Governor Christopher Waller compared to other policymakers.
Meanwhile, shares of department store Kohl’s jumped 42.5% and clothing retailer Abercrombie & Fitch rose 37.5%, after both companies raised their annual earnings forecasts.
Trading volume on US exchanges was worth $16.68 billion, compared to an average of $19.78 billion over a 20-day trading period.
