Stocks traded choppily and then rose Tuesday on the heels of another sharply negative day for US equities. The S&P 500 fluctuated between gains and losses, after falling for a fourth straight session on Monday for its longest losing streak since February.
Stocks rose Tuesday, recovering from intraday losses as the bulls appeared to overcome worries about renewed coronavirus lockdowns in Europe and rising political uncertainty in the U.S.
The Nasdaq Composite bounced 1.1% in afternoon trading Tuesday, putting it on track to snap a four-day losing streak in which its slumped 3.7%, but the rally comes despite most stocks trading lower. The number of declining stocks on the Nasdaq exchange outnumbered advancers 1,758 to 1,459. On the plus side, however, volume in advancing stocks made up 58.0% of total volume, suggesting the larger-capitalized, more active minority were helping drive the market-cap weighted index higher. Meanwhile, the Dow Jones Industrial Average rose 91 points, or 0.3%, and the S&P 500 gained 0.7%. Breadth data on the NYSE was the opposite of the Nasdaq's, as advancers outnumbered decliners by 1,514 to 1,390, but advancing volume made up just 44.3% of total volume.