<p>Wall Street ended sharply higher on Tuesday, bouncing back from a multi-day losing streak as a string of upbeat earnings reports and revived economic optimism fueled a risk-on rally.</p>.<p>All three major US stock indexes gained more than 1 per cent with the blue-chip Dow, on the heels of its worst day in nine months, leading the charge.</p>.<p>The S&P notched its first advance in four days, and the Nasdaq posted its first gain in six.</p>.<p>"It’s a buy-the-dip mentality coming into the market," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.</p>.<p>Economically sensitive small caps and transports outperformed the broader market.</p>.<p>Benchmark US Treasury yields bounced back from five-month lows, in the wake of their biggest single-session decline since February in the prior session. This bolstered rate-vulnerable banks.</p>.<p>"The economically sensitive stocks are up today," Carlson added. "When the 10-year (Treasury yield) goes down in a short period of time, that typically doesn’t happen with an economy that’s supposed to be growing. Firming in the 10-year (yield) indicates that perhaps the economy isn’t going to be falling off a cliff."</p>.<p>Mounting concerns over the highly contagious Delta variant of Covid-19, now responsible for the majority of new infections, have sparked sell-offs in recent sessions as worldwide vaccination efforts gather momentum.</p>.<p>"Things like the Delta variant can certainly impact in the margins," Carlson said. "It doesn’t take a whole lot of fear in some investors to create what we saw yesterday."</p>.<p>For an interactive graphic on global vaccine deployment and availability, click here https://graphics.reuters.com/world-coronavirus-tracker-and-maps/vaccination-rollout-and-access.</p>.<p>Unofficially, the Dow Jones Industrial Average rose 550.48 points, or 1.62 per cent, to 34,512.52, the S&P 500 gained 64.72 points, or 1.52 per cent, to 4,323.21 and the Nasdaq Composite added 223.89 points, or 1.57 per cent, to 14,498.88.</p>.<p>Second-quarter reporting season has hit full-stride, with 56 of the companies in the S&P 500 having posted results. Of those, 91 per cent have beaten consensus, according to Refinitiv.</p>.<p>Analysts now see annual S&P earnings growth of 72.9 per cent for the April-June period, a significant improvement over the 54 per cent growth seen at the beginning of the quarter.</p>.<p>Halliburton Co rose after a bounce-back in crude prices boosted oilfield services demand, leading the company to post its second consecutive quarterly profit.</p>.<p>Peloton Interactive Inc advanced following its announcement that it would provide UnitedHealth Group's fully insured members free access to its live and on-demand fitness classes.</p>.<p>Results from Netflix Inc, United Airlines Holdings and Chipotle Mexican Grill Inc are expected shortly. </p>
<p>Wall Street ended sharply higher on Tuesday, bouncing back from a multi-day losing streak as a string of upbeat earnings reports and revived economic optimism fueled a risk-on rally.</p>.<p>All three major US stock indexes gained more than 1 per cent with the blue-chip Dow, on the heels of its worst day in nine months, leading the charge.</p>.<p>The S&P notched its first advance in four days, and the Nasdaq posted its first gain in six.</p>.<p>"It’s a buy-the-dip mentality coming into the market," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.</p>.<p>Economically sensitive small caps and transports outperformed the broader market.</p>.<p>Benchmark US Treasury yields bounced back from five-month lows, in the wake of their biggest single-session decline since February in the prior session. This bolstered rate-vulnerable banks.</p>.<p>"The economically sensitive stocks are up today," Carlson added. "When the 10-year (Treasury yield) goes down in a short period of time, that typically doesn’t happen with an economy that’s supposed to be growing. Firming in the 10-year (yield) indicates that perhaps the economy isn’t going to be falling off a cliff."</p>.<p>Mounting concerns over the highly contagious Delta variant of Covid-19, now responsible for the majority of new infections, have sparked sell-offs in recent sessions as worldwide vaccination efforts gather momentum.</p>.<p>"Things like the Delta variant can certainly impact in the margins," Carlson said. "It doesn’t take a whole lot of fear in some investors to create what we saw yesterday."</p>.<p>For an interactive graphic on global vaccine deployment and availability, click here https://graphics.reuters.com/world-coronavirus-tracker-and-maps/vaccination-rollout-and-access.</p>.<p>Unofficially, the Dow Jones Industrial Average rose 550.48 points, or 1.62 per cent, to 34,512.52, the S&P 500 gained 64.72 points, or 1.52 per cent, to 4,323.21 and the Nasdaq Composite added 223.89 points, or 1.57 per cent, to 14,498.88.</p>.<p>Second-quarter reporting season has hit full-stride, with 56 of the companies in the S&P 500 having posted results. Of those, 91 per cent have beaten consensus, according to Refinitiv.</p>.<p>Analysts now see annual S&P earnings growth of 72.9 per cent for the April-June period, a significant improvement over the 54 per cent growth seen at the beginning of the quarter.</p>.<p>Halliburton Co rose after a bounce-back in crude prices boosted oilfield services demand, leading the company to post its second consecutive quarterly profit.</p>.<p>Peloton Interactive Inc advanced following its announcement that it would provide UnitedHealth Group's fully insured members free access to its live and on-demand fitness classes.</p>.<p>Results from Netflix Inc, United Airlines Holdings and Chipotle Mexican Grill Inc are expected shortly. </p>