(CNBC) -- Stocks rallied Tuesday, with the market resuming a bounce from last month’s lows, as traders bet on strong corporate earnings reports and wagered that markets have found a bottom.
The Dow Jones Industrial Average jumped 754.44 points, or 2.43%, to 31,827.05 — closing near the highs of the session as gains accelerated in the final hour of trading. The S&P 500 gained 2.76% to 3,936.69. The Nasdaq Composite rose 3.11% to 11,713.15.
All three major averages are above their 50-day moving averages for the first time since April. The broader market index has gained almost 7.4% off its June 16 closing low.
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