(CNBC) -- Stocks rose Tuesday as Wall Street shook off a surprise move from the Bank of Japan that sent global bond yields up. Investors also overlooked fears that a year-end rally may not come to pass.
The Dow Jones Industrial Average rose 146 points, or 0.46%. The S&P 500 gained 0.31%, while the Nasdaq Composite ticked up 0.19%.
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Overnight on Tuesday, the Bank of Japan moved to widen its cap on the 10-year Japanese government bond yield, catching traders around the world off guard and sending stock futures down, initially. That added to pressure from other hawkish central banks, with both the European Central Bank and the Federal Reserve raising rates last week.
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