The major averages rebounded on Tuesday following a technology-centered market rout in the previous session.
The Dow Jones Industrials surged 229.13 points 34,232.05
The S&P 500 picked up 34.92 points to 4,335.41
The NASDAQ Composite jumped 140.58 points to 14,396.07.
Mega-cap technology names were solidly in the green on Tuesday. Netflix rose 3.5%, Amazon gained 1.6% and Apple and Alphabet advanced more than 1% each. Facebook shares rose 1% following a 5% slide on Monday due to a whistleblower's claims and a site outage.
Energy stocks rose again as oil prices continued their climb. U.S. oil prices topped $79 per barrel on Tuesday. Exxon Mobil and ConocoPhillips each gained more than 1%. Chevron advanced 2.7%.
In Washington, lawmakers are still trying to agree to raise or suspend the U.S. borrowing limit and avert a dangerous first-ever default on the national debt. The Treasury Department warned last week that lawmakers must address the debt ceiling before Oct. 18 when officials estimate the U.S. will exhaust emergency efforts to honor its bond payments.
Still, some believe the outlook for equities remain robust after the weak September as the economy continues to rebound from the Covid crisis.
Prices for 10-year Treasurys sagged, raising yields to 1.52% from Monday's 1.48%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.37 to $78.99 U.S. a barrel.
Gold prices slumped $16.30 to $1,751.30 U.S. an ounce.