Dow, S&P See Best Day of 2014

U.S. stocks finished sharply higher on Tuesday, with  Dow and S&P seeing the best gains this year. The Dow Jones Industrial Average gained 227.85 points, or 1.41%, to 16,395.88. The S&P 500 added 28.18 points, or 1.53%, to 1,873.91. The Nasdaq Composite gained 74.67 points, or 1.75%, to 4,351.97.

Chrysler Group LLC is withdrawing a request for financial backing from federal and provincial governments in Canada and will use its own funds for production of minivans and other vehicles in Windsor and Brampton, Ontario.

Moelis & Co., the investment bank founded in 2007 by former UBS AG banker Kenneth Moelis, filed for a $100 million initial public offering.

Worldwide personal-computer shipments may decline by a steeper-than-forecast 6.1 percent this year as demand weakens in emerging markets, researcher IDC said.

BP is creating a new business to manage its US onshore oil and gas assets, in an effort to compete more effectively with the smaller independent companies that dominate America’s shale industry.