A climb in the Dow Jones Industrial Average on Tuesday was supported predominantly by a rally in banks shares, Goldman Sachs Group and J.P. Morgan Chase & Co. Combined, shares of the pair of bank giants contributed about 32 points to the the price-weighted Dow industrials . The blue-chip gauge ended 43 points higher, with Goldman and J.P. Morgan producing more than 74% of the heavy lifting. The broader stock market booked its fourth straight advance, coming after a tough stretch for stocks last week, highlighted by the worst decline in months on Wednesday. That drop was spurred by mounting doubts that President Donald Trump will be able to produce promises of tax cuts, a boost to infrastructure spending, and deregulation--factors which have vaulted equity benchmarks higher over the past several months. However, those proposals have come into question as Trump faces an FBI probe into his administration's ties to Russia. Still, the broad uptrend appears to be intact, with the S&P 500 index closing up 0.2% at 2,398, briefly reclaiming 2,400 intraday-- a level it was at prior to last Wednesday's rout, while the Nasdaq Composite Index closed less than 0.1% higher at 6,138.
Copyright © 2017 MarketWatch, Inc.
Continue Reading Below