Stocks rallied for a second straight day on Wall Street, softening what’s been a rough April.
The S&P 500 added 1.2% Tuesday to pull further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average climbed 0.7%, and the Nasdaq composite rose 1.6%.
A weaker-than-expected report on U.S. business activity helped support the market, which remains in an awkward phase. The hope on Wall Street is for the economy to avoid a severe recession, but not to stay so hot that it keeps upward pressure on inflation. GE Aerospace soared after raising its profit forecast.
On Tuesday:
The S&P 500 rose 59.95 points, or 1.2%, to 5,070.55.
The Dow Jones Industrial Average rose 263.71 points, or 0.7%, to 38,503.69.
The Nasdaq composite rose 245.33 points, or 1.6%, to 15,696.64.
The Russell 2000 index of smaller companies rose 35.17 points, or 1.8%, to 2,002.64.
Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
Hayao Miyazaki's animated fantasy further leads Chinese box office
Draft rules to improve data security released
Panda program continues to boost China
NBA playoffs: Edwards leads Wolves to 98
Australia's 'expansion plan' for AUKUS raises concern
China committed to promoting peace talks on Ukraine issue: top diplomat
Jessica Biel CHOPS her long locks into a bob after book signing in Studio City
Industrial economy to get fresh boost
Brazil replaces injured goalkeeper Ederson in Copa America squad
Domestic brands shine at 4th CICPE in S China's Hainan