(CNBC) -- Stocks rose on Tuesday as a record jump in retail sales — coupled with positive trial results from a potential coronavirus treatment and hopes of more stimulus — sent market sentiment soaring.
The Dow Jones Industrial Average closed 526.82 points higher, or 2%, at 26,289.98. The S&P 500 gained 1.9% to end the day at 3,124.74 while the Nasdaq Composite climbed 1.8% to 9,895.87. It was the third straight gain for the major averages.
The U.S. government reported a record 17.7% increase in retail sales for May. Economists polled by Dow Jones expected a gain of 7.7%. President Donald Trump touted the strong data, adding it “looks like a BIG DAY FOR THE STOCK MARKET, AND JOBS!”
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