Stocks rose for a third day Tuesday, as Wall Street tried to recover its footing after a wild January.
The Dow Jones Industrials surged 273.38 points to conclude Tuesday’s session at 35,405.24.
The S&P 500 climbed 30.99 points to 4,546.54.
The NASDAQ strode upward 106.12 points to 14,346.
Bank stocks led the market higher, with Goldman Sachs better by 2.6%, and JPMorgan Chase gained 1.7%. Wells Fargo also advanced more than 3.3%.
Big tech names like Netflix, picking up 7%, and Meta Platforms, launching 1.8% contributed to the gains. Alphabet also advanced 1.6%.
Tuesday’s moves added to a two-day rally on Wall Street that ended a volatile month of trading.
On Tuesday, traders awaited key earnings releases from Alphabet — which is slated to report after the bell — and Amazon and Meta, which report later in the week.
It’s been a solid earnings season thus far, with 78.5% of S&P 500 companies that have posted results beating bottom-line expectations.
UPS reported better-than-expected earnings and hiked its quarterly dividend, sending the stock up 14%. Shares of Exxon Mobil gained more than 6.4% after the company reported better-than-expected quarterly earnings and revenue that jumped more than 80% year over year.
On the economic data front, the Institute for Supply Management manufacturing index came in at 57.6. That’s down from 58.8 in December.
A reading above 50% represents expansion. The data also showed that prices jumped by 7.9 points to 76.1 month over month — another sign of rising inflation.
Prices for 10-year Treasurys faltered a bit, raising yields to 1.80% from Monday’s 1.78%. Treasury prices and yields move in opposite directions.
Oil prices gained 28 cents to $88.43 U.S. a barrel.
Gold prices moved forward $4.90 to $1,801.20 U.S. an ounce.