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A sharp fall in oil prices did not deter U.S. stock markets from climbing the charts Tuesday, investors relieved to have the first U.S. presidential debate between Hillary Clinton and Donald Trump behind them.
The Dow Jones Industrials hiked 128.54 points to 18,223.37, with Microsoft leading advancers and Disney the only decliner.
The S&P 500 gathered 13.83 points to 2,159.93, with consumer discretionary leading eight sectors higher and utilities lagging.
The NASDAQ Composite soared 48.22 points to 5,305.71
Also on market watchers' radars was Deutsche Bank, which saw its shares hit a fresh all-time low on Tuesday, weighing on European equities.
Deutsche's U.S.-listed shares plunged more than 7% Monday after German Chancellor Angela Merkel said the German government would not help the bank with its U.S. legal troubles.
Economically speaking, the Consumer Confidence Index hit 104.1 in September, according to figures released by the U.S. Conference Board Tuesday. Economists expected the Consumer Confidence Index to hit 99.0 in September, down from August's revised reading of 101.8, according to Thomson Reuters consensus estimate. The read was also the highest since the recession.
Also on the data front, the S&P CoreLogic Case-Shiller 20-City Composite index rose 5% year over year, slightly below the expected 5.1% increase. The September Markit Flash U.S. Services PMI was also released, showing expansion. Meanwhile, the Richmond Federal Reserve Manufacturing index for September showed a read of minus eight.
Many pundits gave a slight edge to Clinton Monday night, but admitted there is still a lot of campaigning left to do. The next debate is set for Sunday, Oct. 9.
Prices for the 10-year Treasury gained, lowering yields to 1.56% from Monday’s 1.58%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.43 to $44.50 U.S. a barrel
Gold prices faded $13.60 at $1,330.50 U.S. an ounce.
