Stocks Rose, Eyed on Stimulus, Vaccines

U.S. stocks rose Tuesday morning as more updates on the stimulus front out of Washington helped at least temporarily offset concerns over the potential for more virus-related restrictions. The Dow Jones Industrial Average lately added 71.96 points, or 0.24%, to 29,933.51. The S&P 500 was up 18.35 points, or 0.50%, to 3,665.84. The Nasdaq Composite jumped 77.55 points, or 0.62%, to 12,517.59.

Oil futures rose Tuesday, with Brent crude pushing further above $50 a barrel, as investors cheered the rollout of a COVID-19 vaccine and tracked progress in Washington toward another round of economic relief. West Texas Intermediate crude for January delivery rose 50 cents, or 1.1%, to $47.49 a barrel. February Brent crude was up 33 cents, or 0.7%, at $50.62 a barrel.

Industrial production rose 0.4% in November following a 0.9% increase in October, the Federal Reserve reported on Tuesday. This topped consensus economist expectations for a rise of 0.3%, according to Bloomberg data.

U.S. import prices rebounded less than expected in November as an increase in the cost of petroleum products was offset by cheaper food and motor vehicles. The Labor Department said on Tuesday import prices edged up 0.1% last month after dipping 0.1% in October.