Stocks rallied for a second straight day on Wall Street, softening what’s been a rough April.
The S&P 500 added 1.2 percent Tuesday to pull further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average climbed 0.7 percent, and the Nasdaq composite rose 1.6 percent.
A weaker-than-expected report on U.S. business activity helped support the market, which remains in an awkward phase. The hope on Wall Street is for the economy to avoid a severe recession, but not to stay so hot that it keeps upward pressure on inflation. GE Aerospace soared after raising its profit forecast.
On Tuesday:
The S&P 500 rose 59.95 points, or 1.2 percent, to 5,070.55.
The Dow Jones Industrial Average rose 263.71 points, or 0.7 percent, to 38,503.69.
The Nasdaq composite rose 245.33 points, or 1.6 percent, to 15,696.64.
The Russell 2000 index of smaller companies rose 35.17 points, or 1.8 percent, to 2,002.64.
For the week:
The S&P 500 is up 103.32 points, or 2.1 percent.
The Dow is up 517.29 points, or 1.4 percent.
The Nasdaq is up 414.63 points, or 2.7 percent.
The Russell 2000 is up 54.99 points, or 2.8 percent.
For the year:
The S&P 500 is up 300.72 points, or 6.3 percent.
The Dow is up 814.15 points, or 2.2 percent.
The Nasdaq is up 685.29 points, or 4.6 percent.
The Russell 2000 is down 24.43 points, or 1.2 percent.
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