Tuesday Stock Market Update
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite surged on Tuesday.
- The Dow Jones Industrial Average gained 337.76 or 1.13 percent, to close at 30,199.31.
- The S&P 500 gained 1.29 percent to close at 3,694.62.
- The Nasdaq Composite gained 1.25 percent to close at 12,595.06.
Investors were keeping a close eye on lawmakers as they discussed a potential stimulus package.
“I’m sure Congress will come up with something. I think on both sides of the aisle, the White House as well, they all have an interest in getting something out,” said Opimas CEO Octavio Marenzi. “Now, whether it’s really as big as one expected or whether it’s more symbolic, I don’t think that really matters that much. I think it’s more about psychology.”
“The more important thing is sort of keeping an eye on the Fed and what the Fed is doing, because I think that’s what’s really been driving markets over the past half-year, has really been a liquidity injection the Fed has been pushing in.”
On Tuesday keep an eye out for:
- Month-over-month retail sales data
- The Fed's monetary policy update
- Lennar Corp., Barclays Inc., Autozone Inc., and Toro Co Ltd. are reporting earnings.