Stocks rose on Tuesday, extending Wall Street’s streak of gains as traders watched ceasefire negotiations in Europe and key levels in the bond market.
The Dow Jones Industrial Average rose by about 1% to close at 35,294.29 points, achieving gains for the fourth consecutive session.
The S&P 500 also rose 1.23% to 4631.60, while the Nasdaq Composite rose 1.84% to 14619.64.
Auto stocks were among the biggest gainers, with Ford up 6.5% and GM more than 4%, and travel stocks also rose, with Caesar’s Entertainment up 5.6% while American Airlines added about 5% of the gains.
In technology, Netflix jumped more than 3% and Snap jumped about 4.5%, and shares of Moderna rose 4.4% after US regulators approved an additional booster dose of the Corona vaccine for people aged 50 and over.
Traders have been keeping a close eye on the bond market, with the 5-year Treasury yield trading above the 30-year yield at times on Tuesday, a reversal that sparked some recession fears.
In corporate news, healthcare giant UnitedHealth Group announced a deal to buy LHC Group for $170 per share, sending the smaller company’s stock up nearly 6%.