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.
Spain reopens a probe into a Pegasus spyware case after a French request to work together
Interview: Zheng Qinwen: Keep my eyes on the sky and feet on the ground
EU releases blocked funds of $6.7 billion to Poland as part of its post
Int'l photo festival brings fusion of tradition and modernity to China town
Pregnant Emily Miller goes braless and shows off her bump under daring tie
Exhibition on Caravaggio works receives 80,000 visitors in Shanghai
China receives over 18 mln reports on illegal online content in March
Shutterbug in northeast China records growing winter sport popularity
Italian thrill seekers head to China for extreme sports on world's highest bridge