S&P 500 rises on economic recovery and vaccine hopes, pulls back from highs

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U.S. stocks closed higher on Tuesday on optimism about the development of coronavirus vaccines and a revival of business activity, but the S&P 500 failed to hold above the key psychological level of 3,000 points.

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New York (Reuters) – U.S. stocks closed higher on Tuesday on optimism about the development of coronavirus vaccines and a revival of business activity, but the S&P 500 failed to hold above the key psychological level of 3,000 points.

The S&P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 104 new highs and nine new lows.

On U.S. exchanges 12.11 billion shares changed hands compared with the 11.26 billion average for the last 20 sessions.

Reporting by Sinead Carew in New York; Additional reporting by Elizabeth Dilts and Chuck Mikolajczak in New York; Editing by Leslie Adler

Our Standards:The Thomson Reuters Trust Principles.


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Author:

U.S. stocks closed higher on Tuesday on optimism about the development of coronavirus vaccines and a revival of business activity, but the S&P 500 failed to hold above the key psychological level of 3,000 points.

Source: {authorlink}

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