S&P 500, Dow head for longest stretch of outsize moves since April 2020

U.S. stocks are trading near their highest levels of the day heading into the final hour of Tuesday’s session as the market kicks off the fourth-quarter with what are shaping up to be the biggest back-to-back gains for the Dow Jones Industrial Average in two-and-a-half years. In a testament to how hectic markets have been lately, the S&P 500 and Dow are both on track to book moves of 1.5% (in either direction) for the fifth straight session. For both benchmarks, it would represent the longest streak of such moves since April 6, 2020, just as markets were beginning to stabilize following the shock of the COVID-19 pandemic. The S&P 500
SPX,
+3.06%
was up 2.7% at 3,775 in recent trade, while the Dow
DJIA,
+2.80%
rose 2.4% to 30,180. The Nasdaq Composite
COMP,
+3.34%
advanced 2.9% to 11,127.