(Image by Gerd Altmann from Pixabay)
(CNBC) -- The S&P 500 rose on Tuesday for its first gain in four days, as oil prices continued to drop further below $100 and a reading of wholesale inflation came in lighter than expected.
The gains came as traders continued to eye the latest with ceasefire negotiations in Ukraine and China Covid lockdowns that could wreak havoc on tech supply chains. Investors were anticipating a big Federal Reserve monetary decision Wednesday, where the central bank is expected to hike rates for the first time since 2018.
The broad market index rose 2.1% to 4,262.73, though it remains about 11.5% from its record. The Dow Jones Industrial Average added 599 points, or 1.8%, to 33,544.34. The tech-heavy Nasdaq Composite gained 2.9% to 12,984.62.
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