U.S. stocks traded sharply higher Tuesday as investors weighed the implications of delayed results from Iowa’s presidential caucuses and new stimulus efforts by the People’s Bank of China, as it tries to combat the economic impact of a deadly Asian virus that has claimed hundreds of lives and infected more than 20,000 people.
The Dow Jones Industrial Average rose 428 points, or 1.6%, to 28,830, the S&P 500 index gained 48 points, or 1.5%, at 3,297, while the Nasdaq Composite Index advanced 155 points, or 1.7%, to reach 9,428.
On Monday, the Dow closed 143.78 points higher, in its best one-day performance since Jan. 28 as manufacturing data came in surprisingly strong. The S&P 500 index climbed 23.40 points, or 0.7%, to close at 3,248.92, while the Nasdaq Composite Index advanced 122.47 points to 9,273.40, a gain of 1.3%.
All three major benchmarks have taken back the ground lost during Friday’s coronavirus-related rout.
Source : Market Watch