U.S. stock indexes posted strong gains Tuesday as investors snapped up beaten-down shares in the technology, banking, airline and other sectors.
The S&P 500 climbed 80.84 points, or 2%, to close at 4088.85. The Dow Jones Industrial Average rose 431.17 points, or 1.3%, to 32654.59. The tech-heavy Nasdaq Composite jumped 321.73 points, or 2.8%, to 11984.52, rebounding after it fell 1.2% on Monday.
Stocks have taken a beating in recent weeks on wide-ranging economic, geopolitical and Covid-19 concerns. Weighing most heavily on many investors’ minds is the outlook for the U.S. economy as the Federal Reserve lifts interest rates to combat inflation. Â
On Tuesday, fresh data from the Commerce Department showed some signs of economic resilience, with U.S. shoppers increasing retail spending in April for the fourth consecutive month. That, as well as the reopening of some…
