The three major US equity indices rebounded from a lacklustre start and were up nearly 0.3% on Tuesday, led by gains in communication services, technology, and energy. Megacap stocks were mostly higher, with Nvidia rising 1.9%, Microsoft and Apple each up 0.3%, Amazon gaining 0.8%, Meta adding 0.3%, Alphabet climbing 1.3%, and Broadcom advancing 1.0%. By contrast, real estate and consumer staples were the worst-performing sectors. Shares of Eli Lilly fluctuated between gains and losses after the US Food and Drug Administration approved Novo Nordisk’s weight-loss pill. Earlier in the session, traders remained cautious as they digested strong economic data that reinforced expectations the Fed will keep interest rates unchanged in January, while also raising concerns that the resilience of the economy could delay a resumption of rate cuts next year. A delayed report showed the US economy expanded at an annualized pace of 4.3% in the third quarter, the fastest growth rate in two years.

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