NEW YORK — (AP) — U.S. stocks rallied for a second straight day Tuesday to blunt the blow of what’s been a rough April.
The S&P 500 climbed 1.2% and pulled further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average rose 263 points, or 0.7%, and the Nasdaq composite jumped 1.6%.
A weaker-than-expected report on U.S. business activity helped support the market, which remains in an awkward phase. The hope on Wall Street is for the economy to avoid a severe recession, but not to stay so hot that it keeps upward pressure on inflation.
The preliminary report from S&P Global released Tuesday seemed to hit that sweet spot. Treasury yields eased in the bond market, and stocks added to gains immediately after its release.
A flood of earnings reports also dictated much of trading, highlighted by a slew of companies that topped analysts’ …