Timothy A. Clary/Getty Images
- US stocks surged more than 1% on Wednesday as the 10-year US Treasury rate tumbled 15 basis points.
- The decline in interest rates came after economic data showed a slowdown in US business activity earlier this month.
- Investors are anticipating Nvidia's second-quarter earnings report and Fed Chair Jerome Powell's Jackson Hole speech.
US stocks surged more than 1% on Wednesday while interest rates tumbled after economic data showed slowing US business activity earlier this month.
Data from the S&P Global flash composite output index fell showed the slowest pace of growth in six months, with the manufacturing index falling 1.6 points to 50.4. Meanwhile in Europe, private sector activity declined at the fastest pace since November 2020, according to data from S&P Global.