By April Joyner
NEW YORK (Reuters) - U.S. stocks rose on Tuesday as gains in the technology and energy sectors helped Wall Street recover from a sharp sell-off a day earlier on spiralling global trade tensions.
Technology stocks <.SPLRCT> added the most gains to the S&P 500 after having slid on Monday upon conflicting statements from Trump administration officials on restrictions on foreign investment in U.S. technology firms. Apple Inc
Energy <.SPNY> was the greatest percentage gainer among the S&P's 11 major sectors, rising 1.6 percent as Washington pushed allies to halt imports of Iranian crude, which lifted oil prices more than 2 percent. [O/R]
"There's a relief rally in technology, and there's a fundamentals rally in energy," said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas.
The Dow Jones Industrial Average <.DJI> rose 85.16 points, or 0.35 percent, to 24,337.96, the S&P 500 <.SPX> gained 10.86 points, or 0.40 percent, to 2,727.93 and the Nasdaq Composite <.IXIC> added 40.73 points, or 0.54 percent, to 7,572.73.
General Electric Co
Shares of U.S. homebuilder Lennar Corp
Advancing issues outnumbered declining ones on the NYSE by a 1.93-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.
The S&P 500 posted five new 52-week highs and nine new lows; the Nasdaq Composite recorded 63 new highs and 47 new lows.
(Additional reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta and Chizu Nomiyama)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Updated Date: Jun 27, 2018 03:05 AM