The Globe and Mail reports in its Wednesday edition that Wall Street ended sharply higher on Tuesday, lifted by Tesla, Nvidia and other megacap growth stocks after a drop in monthly job openings cemented expectations of a pause in interest rate increases by the U.S. Federal Reserve. A Reuters dispatch to The Globe says that both the S&P 500 and S&P/TSX Composite Index logged their strongest one-day gains since June 2, with Toronto closing at 20,290.41, up 265.27 points. The sharp gains came after the U.S. Labour Department's job openings and labour turnover survey showed the number of job openings were 8.82 million in July, falling for the third straight month and signalling easing labour market pressures. Investors also parsed a report from the Conference Board showing consumer confidence in the U.S. fell to 106.1 in August, compared with expectations of 116. Interest rate futures signalled an 87-per-cent chance the Fed will keep rates steady at its September meeting and a 54-per-cent chance it will keep rates on hold through November. The decline in yields supported growth stocks, with Nvidia climbing 4.2 per cent to close at its highest ever. Tesla rallied 7.7 per cent, and Shopify gained 4 per cent.