US stocks rose on Tuesday buoyed by gains in commodity-linked shares.
The Dow industrials have climbed for five of the past six trading days and risen 15% from a 52-week low hit on February 11. The rally has been spurred by confidence in continued growth in the US economy, a recovery in oil prices and the likelihood that US interest rates will remain low.
Energy and materials shares advanced the most in the S&P 500 on Tuesday, as US crude oil climbed $1.30, or 3.3%, to $41.08 a barrel. The Dow Jones Industrial Average climbed 49.44 points, or 0.3%, to 18053.60, a day after closing above 18000 for the first time since July.
The S&P 500 rose 6.46 points, or 0.3%, to 2100.80, hitting 2100 for the first time this year. Elsewhere, the Stoxx Europe 600 rose 1.5% following an upbeat session in Asia.
Shares in Japan reversed Monday’s steep drops after concerns eased about the financial impact of recent earthquakes in Japan and as the yen has declined against the US dollar over the past week. The Nikkei Stock Average ended 3.7% higher.