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.
United Methodists open first top
Ahead of United Methodist gathering, African churches weigh their future
Xiangjiang New Area of China's Hunan actively cultivates new quality productive forces
Botswana prepares for citrus entry into int'l markets
Prince Louis birthday portrait taken by Kate Middleton is released on day he turns 6
SOEs' AI push may transform industries
China pledges proactive fiscal policy, prudent monetary policy in 2024
REVEALED: The US cities where home prices have DOUBLED the fastest
Pakistan's Karachi bans drones due to security threats
Owners of Crooked House agree to rebuild Britain's wonkiest pub after it burned down
Aboriginal spears taken by Captain Cook in 1770 are returned to Australia's Indigenous people
Wealthy New Yorkers are ditching idyllic Manhattan townhouses for doorman