Stocks rose higher on Tuesday, with the S&P 500 reaching a fresh closing high and the Dow Jones Industrial Average jumping over 275 points, as investors poured back into the broader market despite rising COVID fears due to the fast spreading Delta variant.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): +0.82% or +36.00 points to 4,423.16

Dow Jones Industrial Average (DIA  ): +0.80% or +278.24 points to 35,116.40

Nasdaq Composite Index (QQQ  ): +0.55% or +80.23 points to 14,761.30

Robinhood reaches record high on ARK stake:

Shares of Robinhood (HOOD  ) rose more than 24% on Tuesday to reach a record high, with shares climbing above the new stock's initial public offering price of $38 per share.

The jump came after the ARK Innovation ETF, run by popular fund manager Cathie Wood, disclosed a stake in the no-commission brokerage platform. The growth-focused fund had purchases nearly 5 million shares of Robinhood, with the stake's value comprising 0.82% of the overall ETF.

Robinhood's shares have previously fallen below their IPO price following its debut on the Nasdaq last Thursday.

PepsiCo to sell Tropicana and other juice brands for $3.3 billion:

PepsiCo (PEP  ) announced Tuesday that it has agreed to sell Tropicana, Naked and other North American juice brands to French private equity firm PAI Partners for $3.3 billion. The transaction is expected to close in late 2021 or early 2022.

Pepsi will also receive a 39% stake in a newly formed joint venture with PAI, as well as the exclusive U.S. distribution rights for the juice brands for certain channels.

"This joint venture with PAI enables us to realize significant upfront value, whilst providing the focus and resources necessary to drive additional long-term growth for these beloved brands," Pepsi CEO Ramon Laguarta said in a press statement.

Tencent shares drop on potential Chinese crackdown:

Shares of Chinese technology giant Tencent (TCEHY  ) fell over 7% on Tuesday after the Economic Information Daily, a Chinese media outlet with ties to the Chinese Communist Party, called out Tencent and its video games segment, calling online games "spiritual opium," according to Bloomberg.

The article, which has been subsequently deleted, come amid a major crackdown by the Chinese government against the country's technology companies. Tencent said in a statement about the article that is plans to work to curb minors' spent playing video games.

Here's how the market started trading shortly after opening bell:

S&P 500 Index: +0.22% or +9.50 points to 4,396.66

Dow Jones Industrial Average: +0.24% or +83.72 points to 34,921.88

Nasdaq Composite Index: +0.06% or +8.39 points to 14,681.07