U.S. stocks waffled between gains and losses Tuesday, with the S&P 500 briefly climbing above its record closing high for the fourth time in the past five days.
Technology companies again led the way higher, offsetting losses elsewhere. Business software maker Oracle climbed 5% following a report that it was interested in making its own bid to acquire the U.S. operations of TikTok, a Chinese video app.
Data released Tuesday showed the housing market was improving after the virus outbreak paralyzed the American economy in the spring. Markets were also buoyed by developments in Washington, after Speaker Nancy Pelosi called the House back into session, cutting short the lawmakers’ summer recess for a vote expected Saturday on legislation to prohibit changes in the U.S. Postal Service amid growing concerns that the Trump administration is trying to undermine the agency ahead of the November election.
Investors say it’s crucial that the support comes, particularly after $600 in weekly unemployment benefits and other stimulus from the U.S. government expired.
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