U.S. stocks rose, restoring the Standard & Poor’s 500 Index’s gain for the year and nearly erasing a monthly decline as retailers and technology shares led a rally in light trading.
The S&P 500 advanced 1.1 percent to 2,078.27 at 4 p.m. in New York, rising to a three-week high.
Tuesday’s activity was a reflection of the year, with investors piling into the three top-performing S&P 500 industry groups in 2015 — consumer discretionary, health-care and technology. Two of the year’s worst three, energy and utilities, were among the biggest laggards today.
With today’s rally, the benchmark has nearly wiped out a monthly decline after falling as much as 3.6 percent amid a series of sharp selloffs and rallies in December. If the measure closes the year higher, it will be its fourth consecutive annual gain. The index has risen as much as 3.5 percent in 2015 and dropped 9.3 percent at its low in August.
Source : Bloomberg