Wall Street rallied into close during Tuesday's session, with all three major market benchmark's gaining for the day, month, and quarter. The Nasdaq led performance gains for the second quarter, outperforming about 30%. The S&P 500 was not too far behind, surging almost 20% and the Dow climbed a bit over 17%, making the quarter a strong one despite the coronavirus pandemic's uncertainty. For the month of June, the Nasdaq led again, gaining 6% while the S&P 500 jumped 2% and the Dow increased 1.7%.
Meanwhile, the Conference Board's Consumer Confidence Index rose to 98.1 in June, rebounding from May's reading of 85.9, more than expected, but well below pre-pandemic levels.
"Looking ahead, consumers are less pessimistic about the short-term outlook, but do not foresee a significant pickup in economic activity...it's too soon to say that consumer have turned the corner and are ready to begin spending at pre-pandemic levels," Senior Director of Economic Indicators at The Conference Board Lynn Franco said in a statement.
Here's how the market settled on Tuesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, big tech and big banks led Tuesday's rally: Amazon
In Stock Sector News, every industry soared during Tuesday's rally. The performance gains were as follows: Energy +2.20%, Information Technology +1.92%, Health Care +1.81%, Consumer Discretionary +1.73%, Real Estate +1.59%, Financials +1.56%, Materials +1.43%, Communication Services +1.32%, Consumer Staples +0.81%, Industrials +0.65% and Utilities +0.41%.
In Commodity and Currency News, oil futures were pressured on Tuesday, with the West Texas Intermediate
As the market heads into Wednesday, investors will weigh more economic data against mounting coronavirus infection rates around the United States.