Highlights
Stocks rose Tuesday to extend Monday’s gains as bond yields retreated from recent highs. The Dow Jones industrial average rose 0.5 percent, the S&P 500 gained 0.6 percent, and the Nasdaq was up 0.5 percent. Oil prices edged up and the dollar sagged with lower market interest rates.
Stocks saw broad strength for a second straight day after weakness last week with support from a slight reversal in the painful move up in global market interest rates. A positive reception for Tuesday’s US Treasury sale of 3-year notes added to the move lower in interest rates on the day.
The bullish view of the technology outlook got a boost from upbeat guidance from Marvell Technology and bullish comments from AMD about demand for its products. On the negative side Tuesday, more comments from Federal Reserve officials highlighted inflation concerns and the likelihood of more rate increases.