Wall Street's main indexes rallied on Tuesday as healthcare stocks jumped, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies.
The energy sector .SPNY rose 2.0% as oil prices surged.
Data on Tuesday showed the vast U.S. services sector fell into contraction in April for the first time in nearly 10-1/2-years. “We have certainly gotten some negative data, but for the most part the market has learned to look through that,” Hooper said. Advancing issues outnumbered declining ones on the NYSE by a 2.77-to-1 ratio; on Nasdaq, a 2.01-to-1 ratio favored advancers.
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