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The seesaw in market leadership tilted back toward tech on Tuesday as Federal Reserve leaders continued to stump for Congressional help and as European COVID concerns continued to bubble.
Fed Chair Jerome Powell told the House Committee on Financial Services that, while the economy is indeed improving, continued progress is "highly uncertain" and continued to stress the importance of additional fiscal stimulus. Separately, Chicago Fed President Charles Evans was more specific, saying the country risks "recessionary dynamics" without a new rescue package.
SEE MORE The 25 Best Low-Fee Mutual Funds to Buy in 2020
Meanwhile, the U.K. announced earlier closing hours on pubs and restaurants Tuesday, a day after Deutsche Bank analysts said to "expect lots more restrictions over the days and weeks ahead."
The Nasdaq Composite climbed 1.7% to 10,963 thanks to gains in the tech and communications sectors. It was also helped by a 5.7% surge in Amazon.com (AMZN), which received a Buy call from Bernstein, launched a $499 Peloton (PTON, -0.4) knock-off bike called Prime Bike and set the stage for this year's Prime Day.
Other action in the stock market today:
The Dow Jones Industrial Average improved by 0.5% to 27,288.The S&P 500 gained 1.1% to 3,315.
The small-cap Russell 2000 finished 0.7% higher to 1,496.
Tesla
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 The U.S. death toll from COVID-19 has topped 200,000, according to data aggregated by Johns Hopkins University, and makes up about one-fifth of the global total which is approaching one million. The new case tally has increased to 6,867,960 worldwide and to 6,867,960 in the U.S., the JHU data show, while the global death toll is at 966,152 and the U.S. death toll climbed to 200,182. The second-highest case tally in the world is India at 5,562,663 while the second-highest death count is 137,272 in Brazil. Within the U.S., the states where deaths per capita are showing the highest growth over the last 14 days include North Dakota, Missouri, Virginia, Rhode Island and South Dakota, according to New York Times data. The states with the highest death totals overall are New York, New Jersey, Texas, California and Florida.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Stocks opened the day with mild gains after yesterday's harsh sell-off. The markets have been experiencing one of the worst Septembers in recent memory, and the indices looked to take a breather from the pain. Using our deep learning algorithms, we've crunched the data to give you a set of Top Buys.
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 Stocks shrugged off an early drop and closed higher Tuesday, halting the first four-day losing streak since the market sold off early in the pandemic.
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 Tesla stock turns lower by 4% with promised 'Battery Day' innovations in future
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Oil futures finished higher on Tuesday ahead of data that are expected to show a second straight weekly decline in U.S. crude supplies. On average, analysts polled by S&P Global Platts expect the Energy Information Administration on Wednesday to report a fall of 4 million barrels in domestic crude inventories for the week ended Sept. 18. Oil's climb Tuesday was modest however, as energy traders struggled "to assess the uncertainty with U.S. production as we approach the last two months of hurricane season [and] how bad the demand outlook will get following the winter wave of the coronavirus," as Libyan oil production slowly bounces back, said Edward Moya, senior market analyst at Oanda. October West Texas Intermediate oil , which expired at the end of the day's session, rose 29 cents, or 0.7%, to settle at $39.60 a barrel on the New York Mercantile Exchange. The new front-month contract, November WTI crude settled at $39.80, up 26 cents, or 0.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Stocks struggle to maintain altitude after opening with modest gains Tuesday, as worries about renewed coronavirus lockdowns in Europe and rising political uncertainty in the U.S. continued to hang over the market.
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U.S. stocks closed higher, snapping a four-day losing streak for two of the three major indexes, as investors attempted to look past rising coronavirus case counts around the world and intensifying political tensions in Washington. The Dow Jones Industrial Average added 140 points or 0.5% to close near 27,287, according to preliminary closing figures, while the S&P 500 finished near 3,316, up 34 points or 1.1%. The Nasdaq Composite index jumped 185 points, 1.7%, and finished trading near 10,964. Federal Reserve policymakers on Tuesday repeated calls for Congress to enact additional aid to help the economy, and Treasury Secretary Steven Mnuchin said the White House was interested in reaching a deal with lawmakers. Shares of Amazon.com Inc. bounced more than 5% higher after an analyst price-target increase.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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The Nasdaq Composite bounced 1.1% in afternoon trading Tuesday, putting it on track to snap a four-day losing streak in which its slumped 3.7%, but the rally comes despite most stocks trading lower. The number of declining stocks on the Nasdaq exchange outnumbered advancers 1,758 to 1,459. On the plus side, however, volume in advancing stocks made up 58.0% of total volume, suggesting the larger-capitalized, more active minority were helping drive the market-cap weighted index higher. Meanwhile, the Dow Jones Industrial Average rose 91 points, or 0.3%, and the S&P 500 gained 0.7%. Breadth data on the NYSE was the opposite of the Nasdaq's, as advancers outnumbered decliners by 1,514 to 1,390, but advancing volume made up just 44.3% of total volume.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Nike stock rallies after big earnings beat MarketWatchNike swings back to a quarterly profit as digital sales surge 82% Yahoo FinanceNike Earnings Due As Digital Prospects, 'Solitary Leisure' Lift Nike Stock Investor's Business DailyNike expected to return to profit as online sales, demand from China pick up ReutersNike Jumps on Blowout Q1 Earnings
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European stocks edged higher Tuesday after their worst one-day performance in more than three months, as the Continent faces tighter economic restrictions due to rising cases of coronavirus.
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The Dow Jones Industrial Average was trading over 800 points lower, or down by about 3%, on Monday at 26,835, which would set up the worst decline for the blue-chip benchmark since April 1 when the index dropped 4.4%, or 973 points, according to FactSet data. The decline for the index came as global markets broadly swooned amid talk of renewed restrictions on business activity and reimplementation of social-distancing measures in Europe to limit the spread of COVID-19. London Mayor Sadiq Khan was in talks on Monday to discuss introducing new measures to stem the coronavirus' spread.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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A good, old-fashioned investor panic that punished even solid blue-chip stocks led investors to pull money out of hedge funds like crazy earlier this year. But now it appears that the good times are rolling again.
The benchmark Eurekahedge Hedge Fund Index is sporting a five-month trailing return of almost 13% since March. That includes a 1.9% improvement in August. It's little wonder, then, that net inflows to hedge funds increased by nearly $18 billion last month.
If hedge funds are bullish on a recovery in both the economy and equity markets, it's not a bad idea to see how the so-called smart money is positioning itself for those bets. To get an idea of what hedge funds are holding these days, we turned to WhaleWisdom, where we were able to determine hedge funds' favorite names based on the number of funds holding a position in any given stock.
Big, blue-chip stocks are unsurprisingly over-represented on the list. Indeed, of the 25 most popular hedge fund stocks, 10 are components of the Dow Jones Industrial Average. Partly that's a function of their massive market capitalizations and attendant liquidity, which creates ample room for big institutional investors to build or sell large positions.
In plenty of other cases, however, hedge funds are betting on some of today's hottest growth stocks.
Have a look at hedge funds' 25 favorite blue-chip stocks to buy now. All these names likely appeal to the smart money because of their size, strong track records or outsized growth prospects, but we'll delve into a few specifics that make each pick special.
SEE MORE 20 Best Stocks to Buy for the New Bull Market
Data is as of Sept. 16, unless otherwise noted. Companies are listed in reverse order of popularity with hedge funds, according to WhaleWisdom. Dividend yields are calculated by annu
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