Investors poured back into U.S. stocks on Tuesday, with the Dow Jones industrial average surging more than 200 points after a strong batch of earnings reports and an improving economic picture in Europe.
With a few hours left in the trading day, major U.S. indexes were up more than 1.5%. The blue-chip Dow index rose 198.14, or 1.5%, to 13,119.67, and the broader Standard & Poor's 500 index jumped 21.40, or 1.6%, to 1,390.98. The Nasdaq composite notched its best performance in more than three weeks, rising 57.83, or 1.9%, to 3,046.22.
Apple Inc. appeared to be pulling both the Nasdaq and S&P 500 higher. The technology giant rose 3% to above $604 per share after falling for five straight sessions.
The rebound in U.S. indexes followed a rally in European markets after the Spanish government sold $4.2 billion in short-term debt. The sale had a robust demand by investors, and helped to boost confidence that Europe is keeping its finances in check.