Wall Street reversed course on Tuesday and is attempting to erase its small losses of the previous day as bond yields continue to ease.

In late morning trading, the Dow Jones advanced 0.5% to 35,501.2 points, while the Nasdaq Composite gained 0.4% to 14,297.6 points.501.2 points, while the Nasdaq Composite gained 0.4% to 14,297.6 points.

Despite the notable absence of catalysts, the momentum of recent weeks still shows no signs of running out of steam, although the S&P 500 has gained over 11% in the last four weeks.

Reassuringly, rates are easing sharply on the sovereign bond market, with the yield on 10-year Treasuries returning to a more than two-month low of 4.35%.

The prospect of an end to the cycle of key rate hikes and a slowdown in growth is prompting investors to seek refuge in longer-term Treasury bonds.

The only leading indicator on today's menu, the US consumer confidence index rebounded in November, to 102 from 99.1 in October, after three consecutive months of decline.

However, for the third consecutive month, the expectations sub-index fell below the 80-point threshold, a level that generally heralds the onset of a recession within a year.

Still on the economic front, prices of single-family homes continued to rise in September, according to the S&P/Case-Shiller index published this morning.

This index, which measures price variations in the country's 20 main urban areas, rose by 3.9%, outpacing inflation.

On the oil front, crude oil prices are trying to recover, while the OPEC ministerial meeting scheduled for Thursday could reveal some differences of opinion within the cartel.

A barrel of US light crude (WTI) is currently rebounding by 2.7% to $76.8.

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