Stock market posts back-to-back gains as GameStop chaos cools, investors parse Google, Amazon results
U.S. stocks finished sharply higher Tuesday, with investors encouraged by news on the pace of vaccines in the U.S., the prospect of more fiscal aid from Congress, and a decline in the frenzy of retail trading in heavily shorted stocks like GameStop Corp.
and AMC Entertainment Holdings
The Dow Jones Industrial Average
closed up 1.6% at around 30,688, the S&P 500 index
gained 1.4% at 3,826, while the Nasdaq Composite Index
closed 1.6% higher to end at 13,612. All closing levels are on a preliminary basis. Market participants digest quarterly results from megacapitalization stocks Amazon.com
and Google parent Alphabet Inc.
after Tuesday’s close of trade. Meanwhile, shares of GameStop finished the day down 60% and has declined 72% so far this week after a stratospheric run-up in recent days.