Dow jumps more than 300 points on stimulus optimism

By Around the Web

(CNBC) — Stocks rose sharply on Tuesday as traders grew more optimistic about Congress passing another economic relief package.

The Dow Jones Industrial Average gained 337.76 points, or 1.1%, to 30,199.31. The S&P 500 advanced 1.3%, or 47.13 points, to 3,694.62, snapping a four-day losing streak. The Nasdaq Composite climbed 1.3%, or 155.02 points, to 12,595.06, reaching a new record closing high.

Apple led the Dow higher, jumping 5% after Nikkei reported the company will increase iPhone production by about 30% in the first half of 2021. All 11 S&P 500 sectors registered gains on Tuesday, led by energy and utilities.

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