There was a major upward movement by the major domestic equity indexes on Tuesday, with financials ending a five-day losing streak with Treasury yields stabilizing above 15-month lows.
The S&P 500 financial index chalked up a gain of 1.1 percent, registering its largest daily percentage gain since Feb. 15.
Dow Jones Industrial Average added Dow removed DowDuPont.
Benchmark 10-year note yields were steady on the day but above the level reached Monday, which was the lowest since December 2017.
The S&P 500’s gains came after two sessions of declines, triggered by concern about slowing global economic growth and the inversion of a closely watched part of the Treasury yield curve.
If it persists, the yield curve inversion is seen as an indicator that a recession is likely in one to two years.
Also helping stocks, the S&P energy index rose 1.5 percent, leading percentage gains among sectors, as oil prices rose on OPEC supply cuts and expectations of lower domestic inventories.
Apple ended the trading day down 1 percent, reversing early gains, after a U.S. trade judge recommended Qualcomm win a sales ban on some Apple iPhone models containing chips made by Intel in one of two patent disputes.
Investors also digested weak consumer confidence numbers for March, as well as housing data indicating homebuilding fell more than expected in February.
Carnival fell 8.7 percent after the world’s largest cruise operator cut its annual earnings forecast.
Approximately 6.55 billion shares changed hands on the major domestic equity exchanges on Tuesday, as compared to the 7.66 billion share average over the past 20 trading days.