Stocks rose on Tuesday as investors snapped up shares in beaten-down sectors, including financials, a day after Wall Street skidded to a 12-year low.
The benchmark S&P 500 index <.SPX> held a slight edge above its November bear market low, as JPMorgan , up 3 percent, and Citigroup , up almost 5 percent, led a rebound in financial shares.
Shares of Home Depot , up 6 percent, were a top boost to the Dow after the leading home improvement chain's quarterly operating profit topped analysts estimates.
The Dow Jones industrial average <.DJI> rose 73.83 points, or 1.04 percent, to 7,188.61. The Standard & Poor's 500 Index <.SPX> added 10.32 points, or 1.39 percent, to 753.65. The Nasdaq Composite Index <.IXIC> climbed 23.53 points, or 1.70 percent, to 1,411.25.
JPMorgan climbed to $20.49 after Citigroup raised its first-quarter profit view on the bank. After the bell on Monday JPMorgan announced an 87 percent cut in its dividend to conserve capital and said it has been solidly profitable this quarter.
Bank of America rose 3.6 percent to $4.05, while Citigroup shares added 6.5 percent to $2.28. The KBW Banks index <.BKX> was up almost 2 percent, rebounding from multiyear lows.
(Editing by James Dalgleish)