Stocks rose Tuesday on the back of a record retail sales jump in May, positive trial results from a potential COVID-19 treatment, and more economic stimulus from the Fed.
The U.S. government reported all-time increase in retail sales of 17.7% in May. Economists were expecting a 7.7% increase.
Meanwhile, trial results announced today showed an already widely available drug called dexamethasone can help critically ill coronavirus patients.
Combine that with the Fed's announcement yesterday that it will begin buying individual corporate bonds, and you get another market rally.
The S&P 500 was up 1.6%, the Dow up 1.7%, and the Nasdaq closed 1.5% higher on the day.
D.R. Barton, Jr., focused his live stream on key earnings reports this week (8:45 a.m. EDT)
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