Stocks rose higher on Tuesday, with technology stocks rallying higher, leading the Nasdaq to surge 3.7% higher for its best day since November. The recovery reversed the index's decline into correction territory by the close of Monday's session. Additionally, the S&P 500 jumped over 1% and the Dow extended Monday's gains.

The closely watched 10-year U.S. Treasury yield dropped more than 5 basis points to 1.54% on Tuesday. The benchmark rate had traded as high as 1.62% on Monday, igniting inflation fears as the U.S. economy begins to recover.

Meanwhile, the U.S. House of Representatives plans to vote on the $1.9 trillion stimulus package that the Senate passed over the weekend, setting the legislation to be potentially passed this week. The Congressional chamber expects to pass the bill on Wednesday, which gives President Joe Biden time to sign the bill into law by the weekend.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): +1.42% or +54.11 points to 3,875.46

Dow Jones Industrial Average (DIA  ): +0.10% or +30.50 points to 31,832.94

Nasdaq Composite Index (QQQ  ): +3.69% or +464.66 points to 13,073.82

For Stocks, Disney's (DIS  ) CEO Bob Chapek announced on Tuesday that the entertainment company's Disney+ streaming service has surpassed 100 million subscribers just 16 months since its launch. Tesla (TSLA  ) shares soared nearly 20% after a five-day losing streak, posting its biggest one-day gain since Feb. 2020. Other tech giants like Amazon (AMZN  ), Apple (AAPL  ), Facebook (FB  ), Microsoft (MSFT  ) and Netflix (NFLX  ) also rallied higher on Tuesday.

For Sector Performance, sectors on the S&P 500 ended Tuesday's session mostly higher, with Consumer Discretionary (XLY  ) and Information Technology (XLK  ) leading gains at over 3%, while Financials (XLF  ) and Energy (XLE  ) led losses.

For Commodities and Currency, the U.S. Dollar (UUP  ) slipped for its over 3 month high on Tuesday as U.S. Treasury yields eased, boosted riskier currency bets. The dollar index, which tracks the greenback against six other rival currencies, fell 0.46% lower at 91.95. Gold (GLD  ) prices surged higher on the falling dollar and U.S. Treasury yields on Tuesday, recovering from its nine-month low reached last session. Spot gold increased 2.1% to $1,717.25 per ounce, while U.S. gold futures settled 2.3% higher at $1,716.90 per ounce. Crude oil futures slipped under $68 per barrel on Tuesday, as easing supply disruption concerns outweighed outlooks for tighter OPEC+ supply curbs. International benchmark Brent Crude (BNO  ) fell 1.06% to $67.52 per barrel, while domestic index West Texas Intermediate (USO  ) settled 1.6% lower at $64.01 each.

For Wednesday, market participants will turn their attention to fresh economic data for February's Consumer Price Index, Core CPI and the U.S. Federal budget, as well as the House's vote on the new COVID stimulus package.