• The Dow Jones Industrial Average rose 320.11 points, or 1.31 percent, to 24,776.59, the S&P 500 gained 24.35 points, or 0.88 percent, to 2,784.17 and the Nasdaq Composite added 67.81 points, or 0.88 percent, to 7,756.20.
U.S. stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week.
Industrial, energy and consumer discretionary shares also rose sharply, while S&P utilities and telecommunications - among the market’s recent outperformers - led percentage declines.
• A Bank of America Merrill Lynch research report showed earnings per share for S&P 500 companies for 2018 was revised higher amid better-than-expected first-quarter results, higher oil prices and stronger-than-expected U.S. economic growth.
U.S. analysts’ estimates for S&P 500 second-quarter profit growth have risen slightly since April, putting the latest forecast at around 21 percent, according to Thomson Reuters data.
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• Markets in Asia gained Tuesday, taking cues from the rally in U.S. stocks as investors temporarily set aside recent trade-related concerns.
In Japan, the Nikkei 225 advanced 0.8 percent in early trade, building on the last session's 1.2 percent gain. Most sectors traded in positive territory, including banks and exporters. Among heavyweights, Uniqlo-owner Fast Retailing edged up by 0.4 percent and SoftBank Group rose 2.25 percent. Robotics and automation manufacturer Fanuc added 2.33 percent.
Elsewhere, South Korea's Kospi rose 0.72 percent as steelmakers recovered some losses seen in the last session. Some large cap technology names were also firmer, with Samsung Electronics tacking on 1.86 percent.
Down Under, the S&P/ASX 200 saw more moderate gains, with the index climbing 0.19 percent in the morning.
With earnings season ahead, however, trade tensions appear to have dissipated slightly from the spotlight.
Reference: Reuters, CNBC
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