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Stocks rose Tuesday, as the Dow Jones Industrial Average and S&P 500 bounced back slightly from their lowest closing levels in nearly two years.
The 30-stock index came off its highs of the morning, but remained positive 68.37 points to 29,329.18.
The S&P 500 progressed 14.78 points to 3,669.82
The NASDAQ Composite stayed afloat 87.78 points to 10,890.78.
The move comes after five straight days of losses for stocks, with the S&P 500 closing at its lowest level since 2020.
The Dow dropped more than 300 points on Monday, putting it in a bear market after falling more than 20% below its record high. The 30-stock average also posted its lowest closing level since late 2020.
The British pound rebounded slightly after plunging to a record low against the dollar earlier in the week. Sterling traded more than 1% higher at $1.087 per dollar after hitting an all-time low of $1.0382.
Consumer discretionary rose 1.6%, boosted by cruise line stocks that spiked after news that Canada would drop COVID-19 travel restrictions. Royal Caribbean Group was up 6.1%, and Norwegian Cruise Line Holdings climbed 4.9%
Information technology stocks advanced 1.3%, helped by solar stock Enphase Energy, better by 5.3%, and chip company Nvidia, which jumped 3.3%.
Treasury prices lost ground, pushing up yields to 3.96% from Monday’s 3.90%. Treasury prices and yields move in opposite direction.
Oil prices regained $2.25 to $78.96 U.S. a barrel.
Gold prices jumped $6.30 to $1,639.70 U.S. an ounce.
