Wall Street rallied Tuesday after a round of reports suggested the economy is in better shape than feared.
The S&P 500 rose 1.1% to resume an upward climb that had carried it earlier this month to its highest level in more than a year. The Dow Jones Industrial Average rose 212 points, or 0.6%, while the Nasdaq composite gained 1.6%.
Airlines helped lead the way after Delta Air Lines said it still sees pent-up demand in the pipeline as passengers make up for lost opportunities to travel during the pandemic. It highlighted high-income customers in particular, who account for three-quarters of spending on air travel and still look to be in good financial shape despite high inflation.
