US stocks closed higher Tuesday after the major indexes gave up excessive early gains in a volatile trading session.
The Dow opened more than 600 points higher, then closed with about half that, while the Nasdaq started 2.7% higher and finished up less than 1%. Still, the rally added to a hefty advance on Monday.
Robust earnings reports from Goldman Sachs and Johnson & Johnson boosted investor confidence despite worries about more rate increases from the central bank to tame inflation.
Meanwhile, earnings season will continue after the close, when Netflix will report. And late Wednesday, Tesla will post third-quarter earnings.
Here are the results of US indexes at the 4:30 p.m. closing bell on Tuesday:
- S&P 500: 3,720.00, adding 1.14%
- Dow Jones Industrial Average: 30,523.80, up 1.12% (337.98 points)
- Nasdaq Composite: 10,772.40, up 0.90%
In commodities, bonds, and crypto
- West Texas Intermediate crude plummeted furtherther, dropping 2.94% to $82.93 per barrel. Brent crude, the international benchmark, shed 1.60% to $90.14
- Gold gained slightly, up 0.02% to $1,650.28 an ounce.
- The 10-year Treasury yield lost 1.7 basis points to 3.998%.
- Bitcoin fell 1.28% to $19,158.68
