Mumbai, Jan. 7 -- The Dow jumped 484.90 points (1%) to 49,462.08, the Nasdaq climbed 151.35 points (0.7%) to 23,547.17 and the S&P 500 rose 42.77 points (0.6%) to 6,944.82.

The Dow pushed higher on Tuesday, buoyed by a 3.4% surge in Amazon (AMZN) shares after the company hit a record closing high. The online retail giant gained momentum following news of its Alexa+ Early Access rollout, viewed as a direct challenge to ChatGPT and Google's Gemini. Additional strength from Amgen (AMGN), Salesforce (CRM), and IBM (IBM) also lifted the blue-chip index.

Broader market advances came despite the absence of major catalysts, with traders awaiting key U.S. economic data later this week. Attention now turns to reports on private sector employment,...