U.S. stocks climbed on Tuesday as the Nasdaq Composite returned from its worst three-day loss since 2011, with investors purchasing social media and Internet shares in the comeback.
Stocks in Google, Facebook and Amazon.com rose Tuesday, riding slight increases in the Nasdaq, which went up 0.8% to 4,112.99. The S&P 500 added 6.94 points, or 0.4 percent, to 1,851.98, and the Dow Jones Industrial Average rose 10.40 points, or 0.1 percent, to 16,256.27 by the time markets closed.
The stock market ended 2013 at an all-time high, but haven’t fared as well this year, with many investors complaining that shares are overvalued.
“The market has been kind of dealing with a correction since January; after a really good end to last year, stocks might have been a little ahead of themselves,” Stuart Freeman, chief equity strategist at Wells Fargo Advisors told CNBC.