The Globe and Mail reports in its Tuesday edition that Wall Street's three benchmarks ended higher on Monday as investors returned to megacap growth stocks, helping both the S&P 500 and Nasdaq recover from a poor weekly performance. A Reuters dispatch to The Globe says that Canada's main stock index also rose, with the real estate and utilities sectors leading a broad-based rally ahead of an expected interest rate cut this week by the Bank of Canada. Alphabet, Meta and Tesla all advanced between 2.2 per cent and 5.1 per cent after being major drags on the market last week. Nvidia also rose 4.8 per cent. "We think this move today probably has more to do with a rebound from the selling that occurred last week than anything else," said Jason Pride at Glenmede. Chief among the other factors on traders' minds was a re-examination of the state of the presidential race after U.S. President Joe Biden announced his withdrawal and endorsed Vice-President Kamala Harris. The S&P/TSX Composite Index closed at 22,872.65, up 182.26. The BOC is widely expected to cut its benchmark rate by 25 basis points to 4.5 per cent Wednesday. Sleep Country was a standout, jumping 27.1 per cent after Fairfax agreed to buy the retailer.