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Stocks rebounded Tuesday, recovering some of the steep losses of the prior trading session that sent both the Dow Jones Industrial Average and the S&P 500 down more than 2%.
The Dow Jones Industrial Average recovered 277.11 points, or 1.2%, to 23,870.09, led higher by gains in Boeing and Johnson & Johnson.
The S&P 500 gained 21.22 points to 2,567.16, after falling to a new closing low and touching a new intraday low for 2018 on Monday.
The NASDAQ popped 62.13 points to 6,815.86, as Amazon, Apple and Google-parent Alphabet all traded higher.
The Dow and S&P 500, which are both in corrections, are on track for their worst December performance since the Great Depression in 1931, down more than 7% so far for the month. The S&P 500 is now in the red for 2018 by 4%.
A slew of stocks were on pace for notable comebacks on Tuesday following losses on Monday.
E-commerce giant Amazon — which sank nearly 4.5% on Monday — rallied 1%. Aircraft and aerospace manufacturer Boeing jumped 3.7% after hiking its dividend by 20 percent, and chipmakers Nvidia gained 1.8% and Advanced Micro Devices picked up 3%
The Federal Reserve is widely expected to hike its benchmark overnight lending rate for a fourth and final time of 2018 when it concludes a two-day policy meeting on Wednesday.
Prices for the benchmark for the 10-year U.S. Treasury grew, lowering yields to 2.84% from Monday’s 2.86%. Treasury prices and yields move in opposite directions
Oil prices dropped $1.13 to $48.67 U.S. a barrel.
Gold prices faded 30 cents to $1,251.50 U.S. an ounce.
