US stocks climb as investors buy Monday’s dip on recovery hopes

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Getty Images / Xinhua News Agency US stocks gained slightly on Tuesday as investors bought Monday's dip and bet on fresh stimulus and COVID-19 vaccines to fuel a near-term economic rebound.While the Biden administration is set to detail a sweeping fiscal stimulus plan on Thursday, investors continue to weigh whether stocks can remain at their lofty levels.Bitcoin recovered slightly from its Monday nosedive but remains well below the records it hit last week.Oil prices gained as the US dollar weakened against currency peers. West Texas Intermediate crude rose as much as 1.9%, to $53.26 per barrel.Sign up here our daily newsletter, 10 Things Before the Opening Bell. US stocks edged higher on Tuesday as investors optimistic for a full economic rebound bought the market's recent dip. Hopes for widespread vaccination and Biden-backed stimulus continue to lock horns with stocks' lofty valuations. Fallout from last week's violent riots at the Capitol continues to weigh on market sentiments, and Democrats are expected to vote to impeach President Donald Trump on Wednesday. Shambolic vaccine distribution across the US has also cut into some investors' recovery outlooks. CNBC reported Tuesday morning that the Trump administration will issue updated vaccination guidance that expands eligibility to everyone 65-years-old and more...