Here's what happened to the stock market on Tuesday

Two men wearing a masks walks pass the New York Stock Exchange (NYSE) on April 30, 2020 in New York City.
Johannes Eisele | AFP via Getty Images

Dow Jones Industrial Average rises 217 points

The Dow gained 217.08 points, or 0.85%, to close at 25,812.88. The S&P 500 climbed 1.54% to 3,100.29. The Nasdaq Composite advanced 1.87% to 10,058.77. Stocks ended Tuesday's session on a high note, adding to their sharp gains for the quarter.

Best quarter in decades

The Dow had its biggest quarterly gain since 1987 and the S&P 500 notched its best quarter since 1998. Both averages went up more than 17% for the second quarter. The Nasdaq logged in its best quarterly performance since 1999. "A combination of 1) Stimulus, 2) Positive trends in the virus, 3) Economic reopenings and 4) Hopes for a vaccine drove stocks higher in Q2," wrote Tom Essaye, founder of The Sevens Report.

Tech and banks rise

Shares of Facebook and Amazon rose nearly 3% each on the day. JPMorgan Chase climbed 1.14% and Bank of America advanced 1.54%.

What happens next?

Weekly mortgage data, private payrolls number and manufacturing numbers are all set for release Wednesday morning.

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