US stocks rallied on Tuesday following comments from Federal Reserve chair Jerome Powell on the positive economic data trend. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw gains, with the S&P 500 and Nasdaq on track for record closes. Fresh job opening data showed a resilient labor market, with unexpected growth in May. Powell emphasized the central bank's need for more evidence before considering interest rate cuts, despite encouraging signs of cooler inflation. The 10-year Treasury yield dipped after a recent spike. Tesla's strong second-quarter delivery numbers boosted its stock nearly 10%. Analysts are optimistic about earnings season but caution that high expectations may limit stock gains. Oil prices rose amid Hurricane Beryl concerns and Middle East tensions. RBC Capital Markets raised its S&P 500 year-end target. Powell reiterated the Fed's focus on reaching a disinflationary path.