Stocks Close Higher for 3rd Straight Day; Tesla Surges in Late Trading to Extend Rally

Major indexes closed slightly higher Tuesday as the stock market continued its recovery from an extended selloff.

The S&P 500 and Nasdaq Composite added 0.2% and 0.5%, respectively, while the Dow Jones Industrial Average rose fractionally. Stocks had kicked off the week with big gains following news that President Trump could scale back some of the tariffs that are due to be imposed next week on U.S. trading partners. With the recent gains, the Dow has inched back into positive territory for 2025, as stocks have rebounded from a month-long selloff spurred by concerns about the potential impact of tariffs and uncertainty about the outlook for the economy.

Investors brushed off consumer confidence data released this morning that came in weaker than expected, with the index hitting its lowest level in more than four years. Investors are closing watching all data points amid worries that tariffs could reignite inflation and cause economic growth to stall. The big economic report of the week comes Friday with the scheduled release of the Federal Reserve's preferred measure of inflation.

The yield on the 10-year Treasury note, which had fallen during the recent stock market rout amid the growing concerns about the economy, was at 4.32% in late trading, down from 4.33% at yesterday's close and from an earlier high Tuesday of 4.37%. The yield, which affects costs on all sorts of loans, notably mortgages, hit its highest level in more than a month this morning.

Mega-cap technology stocks, which helped lead Monday's rally, were mostly higher again today. Shares of Tesla (TSLA) rallied late in the day to finish 3.5% higher, gaining ground for the 5th consecutive session, despite news Tuesday that the EV maker's sales in Europe continued to slide. Apple (AAPL), Alphabet (GOOG), Amazon (AMZN) and Meta Platforms (META) each rose more than 1%, while Microsoft (MSFT) inched ahead. Chipmakers Nvidia (NVDA) and Broadcom (AVGO) closed slightly lower

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