New York (AFP)

Wall Street rebounded sharply on Tuesday, ending several sessions of decline, in a market reassured by the good performance of the giants Amazon, Apple, Facebook and Alphabet.

Its flagship index, the Dow Jones Industrial Average gained 0.52% to 27,288.04 points.

The Nasdasq, with a strong technological coloring, rose 1.71% to 10,963.64 points.

The broader S&P 500 index, which remained on four consecutive declines, rose 1.05% to 3,315.57 points.

After a shy start to the session, the major indices accelerated in the afternoon, led by US tech giants, in particular Amazon, whose stock rose 5.69%.

"The markets were negative in recent days with this concern over a second wave (of coronavirus contamination, editor's note) in Europe," notes Gregori Volokhine of Meeschaert Financial Services.

“As soon as we talk about the second wave, we come back to tech: everything that is a little uncorrected from the Covid is what started to rebound from yesterday,” continues the expert.

In fact, the GAFA (Google, Amazon, Facebook, Apple), which had all given up close to or more than 10% in recent days, have already made up some of their losses.

Investors also followed the testimonies of US Treasury Secretary Steven Mnuchin and Federal Reserve (Fed) Chairman Jerome Powell on Tuesday in the face of elected officials from the House of Representatives.

Mr. Powell notably reiterated the Fed's commitment to support the US economy for as long as necessary.

He also said the recovery would be "faster" if government aid and Fed business loans were disbursed simultaneously.

Tesla fell 5.60% ahead of its much-anticipated "Battery Day," which is due to take place right after its annual general meeting starting at 8:30 p.m. GMT.

Elon Musk, the whimsical boss of the high-end electric vehicle maker, warned that the announcements would be for long-term production and that he was not targeting mass production until 2022. But he was careful not to divulge further details.

Tiffany's stock rose 0.92%.

American justice has set January 5 as the date of the trial to oppose the luxury giant LVMH to the jeweler, suggesting that the two parties resume dialogue.

At the beginning of September, LVMH announced that it was "no longer able" to buy Tiffany "as is", whose engagement had been announced at the end of 2019 for a marriage costing more than 16 billion dollars.

Nike climbed nearly 9% in electronic trading following the close after posting better-than-expected results in the first quarter of 2021 of its lagged fiscal year.

© 2020 AFP