Tuesday Stock Market Overview
All of the major US indexes closed with significant gains on Tuesday, according to CNBC.
- The Dow Jones Industrial Average gained 556.79 points, or 2.13 percent, to close at 26,642.49.
- The S&P 500 gained 1.34 percent to close at 3,197.52.
- The Nasdaq Composite gained 0.94 percent to close at 10,448.58.
Cyclical stocks rallied as economic sentiment increased. Caterpillar was the best performing stock in the Dow, gaining 4.83 percent. Chevron and Exxon Mobil also gained more than 3 percent. Tech shares were slow again. Microsoft rose 0.62 percent, Amazon dropped 0.64 percent, and Netflix lost 0.12 percent.
JPMorgan Chase reported better-than-expected earnings today and was up significantly earlier in the session before closing just above the even line. Citigroup beat expectations, but the stock lost 3.93 percent. Wells Fargo lost 4.57 percent after reporting a loss of $2.4 billion in Quarter 2.
UnitedHealth, Goldman Sachs, and Alcoa are set to report earnings on Wednesday.