(CNBC) -- Stocks rose on Tuesday as investors bet the U.S. economy could start to reopen again while oil prices jumped for a fifth straight day.
The Dow Jones Industrial Average closed 133.33 points higher, or 0.6%, at 23,883.09. The S&P 500 gained 0.9% to close at 2,868.44 while the Nasdaq Composite advanced 1.1% to 8,809.12.
The major averages cut their gains in the final hour of trading after Federal Reserve Vice Chairman Richard Clarida told CNBC’s “Closing Bell” that the economy may need more fiscal and monetary support. Earlier in the session, the Dow was up more than 400 points.
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