Investing.com - U.S. stocks finished higher on Tuesday after a noted hedge fund manager said he was bullish on U.S. equities.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.82%, the S&P 500 index ended up 1.01%, while the Nasdaq Composite index rose 0.69%.
David Tepper, founder and president of the Appaloosa Management hedge fund, told CNBC earlier that he is bullish on U.S. stocks, which sparked a rally on Wall Street.
The news sent financial stocks posting particularly strong gains, especially on industry data that showed smaller businesses are feeling more optimistic.
The National Federation of Independent Business reported earlier that its small-business optimism index rose to 92.1 in April from 89.5 in March.
Analysts were expecting a reading of 89.8.
Also in the U.S., import prices dropped 0.5% in March, meeting market expectations, while export prices declined 0.7%, according to the Bureau of Labor Statistics.
Leading Dow Jones Industrial Average performers included Bank of America, up 2.85%, American Express, up 2.48%, and Chevron, up 1.75%.
The Dow Jones Industrial Average's worst performers included UnitedHealth Group, down 1.11%, Intel, down 0.96%, and Caterpillar, down 0.59%.
European indices, meanwhile, finished largely higher.
After the close of European trade, the EURO STOXX 50 rose 0.66%, France's CAC 40 rose 0.53%, while Germany's DAX 30 finished up 0.72%. Meanwhile, in the U.K. the FTSE 100 finished up 0.82%.
On Wednesday, the U.S. is to release data on producer price inflation, industrial production, the capacity utilization rate and a report on manufacturing activity in New York State.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.82%, the S&P 500 index ended up 1.01%, while the Nasdaq Composite index rose 0.69%.
David Tepper, founder and president of the Appaloosa Management hedge fund, told CNBC earlier that he is bullish on U.S. stocks, which sparked a rally on Wall Street.
The news sent financial stocks posting particularly strong gains, especially on industry data that showed smaller businesses are feeling more optimistic.
The National Federation of Independent Business reported earlier that its small-business optimism index rose to 92.1 in April from 89.5 in March.
Analysts were expecting a reading of 89.8.
Also in the U.S., import prices dropped 0.5% in March, meeting market expectations, while export prices declined 0.7%, according to the Bureau of Labor Statistics.
Leading Dow Jones Industrial Average performers included Bank of America, up 2.85%, American Express, up 2.48%, and Chevron, up 1.75%.
The Dow Jones Industrial Average's worst performers included UnitedHealth Group, down 1.11%, Intel, down 0.96%, and Caterpillar, down 0.59%.
European indices, meanwhile, finished largely higher.
After the close of European trade, the EURO STOXX 50 rose 0.66%, France's CAC 40 rose 0.53%, while Germany's DAX 30 finished up 0.72%. Meanwhile, in the U.K. the FTSE 100 finished up 0.82%.
On Wednesday, the U.S. is to release data on producer price inflation, industrial production, the capacity utilization rate and a report on manufacturing activity in New York State.