Dow Jones Industrial Average rises 187 points
The Dow jumped 187.05 points, or 0.66%, to 28,722.85. The S&P 500 gained 1.01% to end the day at 3,276.24. The Nasdaq Composite climbed 1.43% to 9,269.68. Stocks recovered from their worst day of 2020, regaining a good chunk of those losses, but concerns over the coronavirus linger.
Rebound
Stocks rebounded as the continuation of the earnings season and stronger-than-forecast consumer confidence data offered a positive counterbalance to the uncertainty around the coronavirus. Still, investors keep vigilant watch on any developments around the sickness. Earlier on Tuesday, CNBC reported the White House was considering implementing travel restrictions on China. Meanwhile, the Centers for Disease Control and Prevention said travelers should avoid all nonessential travel to China.
Apple rallies into earnings
Apple shares jumped 2.83% ahead of the company's quarterly earnings being released. Goldman Sachs also contributed to the market's gains, rising 1.86%.
What happens next?
The Federal Reserve will issue its latest decision on monetary policy. McDonald's, General Electric, AT&T, Microsoft and Facebook are among the companies set to report earnings on Wednesday. Read more here.