Tuesday's stock market gained more momentum from Monday's gains, with all three U.S. market indices up since market open. The Nasdaq hit a fresh record high is both intraday and closing trading. Gains in the S&P 500 were led by the Information Technology and Industrial sectors.
Here's how the market ended after Tuesday's regular trading hours:
S&P 500 Index (NYSE: SPY): +1.50% or +48.66 points to 3,297.58
Dow Jones Industrial Average (NYSE: DIA): +1.44% or +407.82 points to 28,807.63
Nasdaq Composite Index (NASDAQ: QQQ): +2.10% or +194.57 points to 9,467.97
In Major Stock News, the Intercontinental Exchange (NYSE: ICE), the owner of the New York Stock Exchange, has approached eBay (NASDAQ: EBAY) again with a takeover offer that may value the stock at over $30 billion. Tesla's (NASDAQ: TSLA) massive rally continues into Tuesday session, with the bloated stock crossing over $900 per share for the first time. Ralph Lauren (NYSE: RL) joined the growing list of companies that are halting operations in China, closing half its its 110 stores in China. Clorox (NYSE: CLX) shares rose almost 5% after the household products company topped expectations in its fiscal second quarter.
In Stock Sector News, all but Utilities, which say a performance drop of -1.03%, had positive performance gains on Tuesday. Those gains are as follows: Information Technology +2.60%, Industrials +1.84%, Consumer Discretionary +1.76%, Materials +1.74%, Health Care +1.70%, Real Estate +1.19%, Financials +1.04%, Communication Services +0.70%, Consumer Staples +0.55% and Energy +0.20%.
Lastly, in Commodity and Currency News, crude oil prices bounced on Tuesday as delegates from OPEC and other ally countries met to begin talks on how officials should respond to the coronavirus. Oil markets are still attempting to gauge how impactful the virus will be on the market. Since the outbreak, China has demanded 20% less oil. Crude prices are still plunging into Wednesday, with West Texas Intermediate (NYSE: USO) dropping over -0.60% and Brent Crude (NYSE: BNO) declining just over -0.41%. Currently, U.S. barrel prices are below $50. Due to Tuesday's rally, Gold (NYSE: GLD) share prices have taken a dramatic fall, with the price per ounce dropping over -1.50%. Finally, the U.S. Dollar (NYSE: UUP) gained more value on Tuesday, with the DXY Index increasing +0.15%.