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Growth stocks lift Wall Street, all eyes on Jackson Hole; Tesla rises

Tesla rises ahead of stock split; Nordstrom dives after cutting profit forecast; Intuit gains on upbeat revenue forecast, Q4 results

NYSE, Wall Street

Traders work on the trading floor at the New York Stock Exchange in Manhattan (Photo: Reuters)

Wall Street's main indexes rose on Wednesday with megacap growth stocks leading gains after a tech selloff in the last few sessions, ahead of the U.S. Federal Reserve's Jackson Hole conference this week.

All 11 major S&P 500 sectors advanced in mid-day trading, with information technology, consumer discretionary and communication services stocks up between 0.4% and 1.1%.

Boosting the tech-heavy Nasdaq, Tesla Inc gained 1.6% ahead of its stock split, while Intuit Inc rose 6.1% after the accounting software maker forecast upbeat fiscal 2023 revenue.

Banks rose 0.6%, on track to snap their five day slump.

The major Wall Street indexes posted losses in

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First Published: Aug 24 2022 | 10:47 PM IST

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