Stocks Ended Higher as Tech Recovered

U.S. stocks ended higher on Tuesday, with the tech shares rebounding, as investors attempted to look past rising coronavirus cases and continued to eye updates on fiscal stimulus. The Dow Jones Industrial Average added 140.48 points, or 0.52%, to 27,288.18. The S&P 500 rose 34.51 points, or 1.05%, to 3,315.57. The Nasdaq Composite gained 184.84 points, or 1.71%, to 10,963.64.

Oil settled higher on Tuesday, finding support from expectations for a second weekly decline in U.S. crude supplies. West Texas Intermediate crude for October delivery edged up by 29 cents, or 0.7%, to settle at $39.60 a barrel. November Brent crude rose 28 cents, or 0.7%, at $41.72 a barrel.

In Congressional testimony, Federal Reserve Chair Jerome Powell pointed to the rapid pace of the economic recovery since its second-quarter lows, but noted that further fiscal support would be required. Treasury Secretary Steven Mnuchin said the White House was interested in reaching a deal with lawmakers.