Stocks Surge on Cool Inflation Data, Investors Await Key Updates

Stocks rallied on Tuesday after the release of a softer-than-expected inflation report for October. The tech-heavy Nasdaq Composite led the gains, followed by the S&P 500 and the Dow Jones Industrial Average. Bond yields also dropped significantly. Home Depot's quarterly results showed a smaller decline in same-store sales than anticipated, while attention is focused on the APAC summit where President Joe Biden and Chinese President Xi Jinping are expected to announce an agreement on cracking down on fentanyl manufacturing and export.