U.S. stocks closed higher Tuesday, helped by a bounce in oil and
some earnings beats, ahead of the release of the Fed meeting statement
Wednesday.
"Again it comes back to our high correlation to oil," said JJ Kinahan, chief strategist at TD Ameritrade.
"I would say there's some short-covering to this rally and there's a little bit of expectation that Apple can help things with earnings tonight," he said.
he major averages closed off session highs but held more than 1 percent higher as oil topped $31 a barrel.
The Dow Jones industrial average outperformed, closing nearly 1.8 percent higher for its best day since December 4 as 3M surged on its earnings report.
"I think this is a lot of noise, a lot of volatility before we hear from the Fed," said John Caruso, senior market strategist at RJO Futures.
Despite Tuesday's gains, the major averages were still lower by almost 7 percent or more for the year so far and more than 10 percent below their 52-week intraday highs, in correction territory.
Note EU-Digest: The unregulated Wall Street Casino - up 200 one day - down 200 the next, as the manipulating management of this Casino. (the financial Industry) laugh all the way to the bank.
Read more: Dow closes up triple digits as 3M climbs, oil bounces
"Again it comes back to our high correlation to oil," said JJ Kinahan, chief strategist at TD Ameritrade.
"I would say there's some short-covering to this rally and there's a little bit of expectation that Apple can help things with earnings tonight," he said.
he major averages closed off session highs but held more than 1 percent higher as oil topped $31 a barrel.
The Dow Jones industrial average outperformed, closing nearly 1.8 percent higher for its best day since December 4 as 3M surged on its earnings report.
"I think this is a lot of noise, a lot of volatility before we hear from the Fed," said John Caruso, senior market strategist at RJO Futures.
Despite Tuesday's gains, the major averages were still lower by almost 7 percent or more for the year so far and more than 10 percent below their 52-week intraday highs, in correction territory.
Note EU-Digest: The unregulated Wall Street Casino - up 200 one day - down 200 the next, as the manipulating management of this Casino. (the financial Industry) laugh all the way to the bank.
Read more: Dow closes up triple digits as 3M climbs, oil bounces
