At closing bell, the Dow Jones Industrial Average advanced 164.07 points, or 0.62%, at 26,828.47. The S&P 500 index added 11.90 points, or 0.36%, to 3,306.51. The tech-heavy Nasdaq Composite Index gained 38.37 points, or 0.35%, to 10,941.17.
Tuesday's moves came as lawmakers worked to make inroads on a new coronavirus stimulus package. All eyes are now on a fifth major coronavirus-aid bill, with Senate Democratic Leader Chuck Schumer saying talks with the White House were moving in the right direction.
Energy, real estate and staples were the best-performing sectors in the S&P 500, rising more than 1% each. Those gains were partially offset by declines health care and financials, the only two S&P sectors that posted declines during the session.
Ralph Lauren Corp shares slumped after quarterly revenue plunged by nearly $1 billion due to coronavirus-led store closures and a slowdown in global demand for luxury goods.
ECONOMIC NEWS: US Factory Orders Rise Substantially In June - US factory orders soared by 6.2% in June after skyrocketing by a revised 7.7% in May, a report released by the Commerce Department on Tuesday showed. The bigger than expected increase in factory orders came as orders for durable goods surged up by 7.6% in June after soaring by 15% in May. Orders for transportation equipment led the increase in durable goods orders once again, skyrocketing by 20.2% in June. The report said orders for non-durable goods also jumped by 5% in June following a 2% increase in the previous month.
Among Indian ADR, Tata Motors grew 1.21% to $7.54, Vedanta rose 2.09% to $6.35, Azure Power Global added 0.19% to $21.45, Dr Reddys Labs advanced 2.16% to $61.42, WNS Holdings added 0.02% to $62.91, Wipro rose 0.47% to $4.28, HDFC Bank added 1.2% to $46.31, and ICICI Bank rose 0.86% to $9.38, while INFOSYS declined by 2.17% to $12.64.
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