U.S. stocks jumped on Tuesday after bond yields declined, causing investors to buy the dip in beaten-up technology shares.
The Dow Jones Industrials built on Monday’s gains, picking up 157.95 points to open for business Tuesday at 31,960.39
The S&P recaptured 59.17 points to 3,879.40.
The NASDAQ Composite screamed back from a disastrous Monday, popping 409.36 points, or 3.3%, to 13,018.52. Tesla shares popped 8.4% after a five-day losing streak, while Apple, Amazon, Microsoft and Netflix all gained at least 3%.
Many popular technology stocks have fallen double digits over the past month. Apple has dropped 12% in the past month, while Tesla has tumbled nearly 30%. Pandemic bets Zoom Video and Peloton have both fallen more than 20% during the same period.
Prices for 10-Year Treasurys recovered, weighing yields to 1.54% from Monday’s 1.61%. Treasury prices and yields move in opposite directions.
Oil prices shed 82 cents to $64.23 U.S. a barrel.
Gold prices brightened $37.50 to $1,715.50.