U.S. stocks jumped on Tuesday, with the Dow Jones Industrial Average kicking off December by adding to its historic rally from November.
The 30-stock index boomeranged back to positive country 343.47 points, or 1.2%, at 29,982.11.
Chevron and UnitedHealth rose more than 2% each to lead the Dow higher.
The S&P 500 regrouped 47.7 points, or 1.3%, to 3,669.33. Energy was among the best-performing sectors, rising 2.5%, as financials soared 1.6%,
The NASDAQ grew 137.11 points, or 1.1%, to 12,336.11.
The Dow rallied 11.8% in November, posting its best one-month performance since January 1987. The S&P 500 hiked 10.8% and the NASDAQ rose11.8%, , for their strongest monthly advances since April. After November’s gain, the S&P 500 is up 12.1% for 2020.
Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin are speaking before Congress this week. Powell called the U.S. economic outlook “extraordinarily uncertain” in prepared remarks to be delivered Tuesday.
Tesla’s shares popped 3.6% after S&P Dow Jones Indices said on Monday night the electric-car maker will be added to the S&P 500 on Dec. 21 in a single step despite its large size. The index provider had considered adding the $500 billion stock in multiple phases.
Shares of Zoom Video fell 11.6% despite the video-conferencing giant reporting better-than-expected earnings for the third quarter.
Prices for the 10-Year Treasury fell hard, driving yields up to 0.91% from Monday’s 0.85%. Treasury prices and yields move in opposite directions.
Oil prices dipped 49 cents to $44.85 U.S. a barrel.
Gold prices regained $30.00 to $1,810.90 U.S.