Wall Street Sees Cautious Rise Amid Hurricane Impact in Florida

The stock market closed higher on Tuesday, but gains were limited as investors digested news of a hurricane that was headed for Florida.

The Dow Jones Industrial Average rose 134.94 points, or 0.4%, to close at 34,754.94. The S&P 500 gained 22.47 points, or 0.5%, to 4,445.86. The Nasdaq Composite Index added 105.63 points, or 0.7%, to 13,894.52.

The gains came as investors looked past the hurricane and focused on positive news about the economy. On Monday, the Commerce Department reported that retail sales rose 0.9% in August, beating expectations.

However, there were some concerns about the impact of the hurricane on the economy. Florida is a major tourist destination, and the hurricane could disrupt travel and tourism.

“The market is trying to digest this news,” said Michael James, managing director of equity trading at Wedbush Securities. “It’s a bit of a wait-and-see attitude.”

The hurricane is expected to make landfall in Florida on Wednesday. It could bring heavy rain, strong winds, and flooding.

The stock market is likely to remain volatile in the coming days as investors assess the impact of the hurricane.

Here are some other news that could affect the stock market:

The Federal Reserve is expected to announce its decision on interest rates on Wednesday.
The Labor Department is scheduled to release its jobs report on Friday.
Earnings season continues this week.
Overall, the stock market is expected to remain volatile in the near term. However, investors should focus on the long-term fundamentals of the economy, which remain positive.