US equity markets were clearly back on the rise on Tuesday: the Dow Jones gained over 1% to 39765, the S&P500 jumped by around 1.7% to 5434 and the Nasdaq Composite gained over 2.4% to 17187.

The trend was driven by bargain-hunting among the major technology stocks, which rebounded after recently suffering from fears of a "bubble" around the companies most exposed to artificial intelligence.

Nvidia, the flagship of this theme, recovered 6.5%. According to Christopher Dembik of Pictet AM, "The delay of a few months in the delivery of its Blackwell chip in no way calls into question the company's hegemonic positioning".

Also on the value side, Starbucks soared by 24.5% after the departure with immediate effect of Laxman Narasimhan, its CEO for barely a year and a half, whom the coffee chain plans to replace with Brian Niccol, the current boss of Chipotle.

Conversely, shares in this Mexican-inspired fast-food chain fell 7.5% following the surprise departure of its CEO, who had helped it post a 700% gain on the stock market since his arrival in 2018.

On the Dow, shares in Home Depot, the world's leading DIY retailer, managed to gain 1.2% despite a downward revision of its annual forecasts on the release of its quarterly results.

On the economic front, the Labor Department reported that US producer prices rose by just 0.1% in July compared with June. Expressed as a year-on-year change, the rise in producer prices even slowed by 0.5 points to 2.2%.

As evidence of better control of inflationary pressures, this figure supported the scenario of an easing of the Federal Reserve's monetary policy, and even a possible rate cut of 50 basis points in September.

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