U.S. stocks climbed on Tuesday on signs U.S. manufacturing surged and Pfizer Inc and UPS Inc posted strong results, sending indexes above key levels as market momentum strengthened.
A strong corporate picture and an improving economy have taken investors’ minds off the political turmoil in Egypt. Investors capitalized on last week’s pullback, sending the Dow over the psychologically important 12,000.
Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors in St. Louis, said the biggest pullback in six months on Friday had lured investors. “There was an opportunity for that money that had missed out to jump in,” he said.
The Dow Jones industrial average gained 140.36 points, or 1.18 percent, to 12,032.29. The Standard & Poor’s 500 Index gained 20.93 points, or 1.63 percent, to 1,307.05. The Nasdaq Composite Index gained 52.56 points, or 1.95 percent, to 2,752.64.