(CNBC) — U.S. stocks closed higher by nearly 1 percent or more on Tuesday as investors found encouragement from some recovery in Chinese stocks and oil prices, amid mixed earnings and the beginning of the Federal Reserve's two-day meeting.
"Oil is definitely having a good impact. When you see the price of oil up, that's giving you indications that people are moving into areas that have been hard hit," said Robert Pavlik, chief market strategist at Boston Private Wealth.
However, he said the market could move lower again before ending the year higher. The trade volume is "not enough to convince me the tide has turned," Pavlik said.
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