NEW YORK: The S&P 500 and the Dow indexes rose on Tuesday following a slate of positive earnings reports from companies including IBM and Coca-Cola, and on optimism over an eventual vaccine and fiscal stimulus to revive a pandemic-battered economy.
The Nasdaq eased after hitting an intraday record high at the start of the session, as shares of Amazon.com Inc fell 1.7% following a near 8% jump a day earlier.
Energy jumped 6%, more than any other S&P sectors, tracking an uptick in oil prices on prospects of higher demand for fuel.
Technology and consumer discretionary, which are the best performing sectors this year, slipped.
International Business Machines Corp gained 1.5% after it signaled higher demand in its cloud computing business, as large corporations accelerate their digital shift.
Coca-Cola Co rose 3.2% as it said demand for its sodas were improving after the "most challenging" quarter for the year.
At 11:05 a.m. ET, the Dow Jones Industrial Average was up 315.72 points, or 1.18%, at 26,996.59 and the S&P 500 was up 21.13 points, or 0.65%, at 3,272.97. The Nasdaq Composite was down 14.20 points, or 0.13%, at 10,752.89.
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