Markets

Here's what happened to the stock market on Tuesday

The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020.
Jeena Moon | Reuters

Dow Jones Industrial Average rises 267 points

The Dow gained 267.63 points, or 1.05%, to close at 25,742.65. The S&P 500 climbed 0.82% to 3,080.82. The Nasdaq Composite advanced 0.59% to 9,608.37. Bets on the economic reopening outweighed concerns over civil unrest in the U.S., sending stocks higher.

More bets around economy reopening

Stocks that benefit from the economy reopening helped Wall Street continue its solid start to the new month. The stock market has largely ignored the unrest, but that could change if investors believe the protests would continue through the summer, disrupting states plans to reopen and hurting consumer confidence.

Banks gain, tech flat

Bank of America rose 0.93%. Citigroup and Wells Fargo advanced 2.81% and 1.14%, respectively. Meanwhile, shares of tech giants Facebook, Amazon and Apple all rose slightly.

What happens next?

Private payrolls data from ADP and Moody's Analytics are set for release Wednesday along with data on the U.S. services sector.

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