Stocks jump late, clawing back ground lost on trade fears
NEW YORK (AP) — Banks, retailers, health care and energy companies climbed Tuesday as U.S. stocks regained much of what they lost in a steep drop a day earlier. Several big technology companies including Apple also recovered.
Banks rose as interest rates turned higher, and automakers Ford and General Motors also jumped after saying their sales rose in March after a rough start to the year. Retailers like Foot Locker and consumer-focused companies including Netflix also climbed.
The market got off to a shaky start, wobbled for much of the day, then surged in the last hour of trading. The S&P 500 index rose 32.57 points, or 1.3 percent, to 2,614.45. It dropped 2.2 percent a day earlier.
The Dow Jones industrial average rose 389.