Stocks searched for direction on Tuesday, ultimately gaining following several days of negative trading. The S&P 500 fluctuated between gains and losses, but finally broke its four-day losing streak as risk appetite improved. The Nasdaq also outperformed as positive market sentiment rushed back in for mega-cap tech stocks: Amazon (AMZN  ), Apple (AAPL  ), Facebook (FB  ), Google (GOOGL  ), Microsoft (MSFT  ) and Netflix (NFLX  ).

Meanwhile, the National Association of Realtors data on U.S. existing home sales for August showed a rise of 2.4% month-over-month to a seasonally adjusted annual rate of 6.00 million homes, matching Wall Street consensus expectations. Sales were also up 10.5% over the same month last year, demonstrating the housing market's continued strength as it recovers from the coronavirus pandemic.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): +1.05% or +34.51 points to 3,315.57

Dow Jones Industrial Average (DIA  ): +0.52% or +140.48 points to 27,288.18

Nasdaq Composite Index (QQQ  ): +1.71% or +184.84 points to 10,963.64

For Major Stock News, Carvana (CVNA  ) shares soared over 30% after the online marketplace for used cars announced that it expects record results across several metrics for its third quarter. The stock also received an upgrade from Goldman Sachs (GS  ) to Buy from Neutral. Peloton (PTON  ) shares declined following Amazon's new partnership with Echelon for a competitive exercise bike called Prime Bike. Tesla (TSLA  ) shares fell as investors were left underwhelmed as they anticipated the company's Battery Day.

For Sector Performance, most industries gained into Tuesday's close, with only Energy -1.03%, Financials -0.84% and Health Care -0.19% lagging behind. The session's performance gains were as follows: Consumer Discretionary +2.96%, Communication Services +1.88%, Information Technology +1.65%, Real Estate +1.26%, Industrials +1.03%, Utilities +0.64%, Consumer Staples +0.64%, and Materials +0.21%.

For Commodities and Currency, the U.S. Dollar (UUP  ) continued to rise on Tuesday as new social restrictions issued to control the spread of the coronavirus raised more uncertainty towards a second wave of lockdowns in Europe that would harm progress toward an economic rebound. The dollar's index rose 0.468% against rival global currencies. Gold (GLD  ), on the other hand, continued to fall for the second straight session as the dollar ascended, with investors wary of the 'safe haven' metal at this time. Spot gold fell 0.4% to $1,904.34 per ounce, while gold futures settled 0.2% lower to $1,907.60 per ounce. Crude oil futures pared sharp overnight losses and rose during Tuesday's session, encouraged by the new tropical storm in the Gulf of Mexico loosing strength. Yet overall, demand fears weigh very heavy on the commodity's growth as the coronavirus begins to flare-up again around the world. International benchmark Brent Crude (BNO  ) rose 0.65% to $41.71 per barrel, while West Texas Intermediate (USO  ) increased 0.74% to settle at $39.60 per barrel.

For the mid-week, investors will turn their attention to fresh data for U.S. manufacturing and services as well as react to Tesla's after market Battery Day presentation.