NEW YORK: The S&P 500 and the Nasdaq rose on Tuesday, led by a bounce in Amazon.com, while a likely delay in the passage of new fiscal stimulus by Congress dampened hopes of a faster economic recovery from the coronavirus pandemic and kept the Dow subdued.

Amazon.com Inc jumped 4.0% after Bernstein upgraded its stock to “outperform”, saying the company will continue to receive a boost from premium subscribers and third-party merchants even beyond the pandemic.

Microsoft Corp, Apple Inc, Alphabet Inc and Facebook Inc, which together fuelled a Wall Street rally since a coronavirus-driven crash in March, rose between 0.3% and 2%.

Seven of the 11 major S&P 500 indexes were trading higher, with real estate and consumer discretionary leading gains.

At 12:34 p.m. ET, the Dow Jones Industrial Average was down 24.28 points, or 0.09%, at 27,123.42, the S&P 500 was up 11.84 points, or 0.36%, at 3,292.90 and the Nasdaq Composite was up 73.13 points, or 0.68%, at 10,851.93.