U.S. stocks rallied at the end the day Tuesday, sending the benchmark S&P 500 to its highest close this year, during what was another characteristically volatile day for equities. The S&P 500 SPX, +1.07% closed 21.84 points, or 1.1%, higher at 2,068.58 and turned positive for the year. Nine of the 10 main sectors finished higher, while energy-sector stocks ended with modest losses, following a drop in oil prices.
On Nymex, March gasoline RBH5, +0.46% settled at $1.552 a gallon, down 2.6 cents, whileMarch heating oil HOH5, +0.13% fell 4 cents to $1.833 a gallon. March natural gas NGH15, +1.42% was the lone gainer among key energy futures, tacking on 8 cents, or 3.1%, to $2.677 per million British thermal units ahead of a weekly U.S. supply update due Thursday.
Crude-oil futures fell more than 5% Tuesday to their lowest settlement level in nearly a week as concerns about a persistent supply glut resurfaced ahead of weekly U.S. inventory updates. Light, sweet crude futures for delivery in March CLH5, +0.92% on the New York Mercantile Exchange fell $2.84, or 5.4%, to settle at $50.02 a barrel. That was the lowest settlement level since Feb. 4. Brent crude for March delivery LCOH5, +0.35% the international benchmark, closed down $1.91, or 3.3% at $56.43 a barrel on the ICE Futures exchange.
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U.S. stocks rallied at the end the day Tuesday, sending the benchmark S&P 500 to its highest close this year, during what was another characteristically volatile day for equities.
