On Tuesday, stocks shook off modest early losses and closed with solid gains. The S&P 500 added 2%, while the Nasdaq rose 1.6%. Volume increased across the board from Monday's level, but remained below average.
The major indexes picked themselves off their session lows about 10 a.m. ET as an index of homebuilder sentiment topped expectations, though it still signaled pessimism.
Stocks added to their gains in the late afternoon on a report by the U.K.'s Guardian newspaper that France and Germany had agreed to boost the euro zone rescue fund.
However, a Dow Jones report after the market's close raised questions about the Guardian's story.
During the regular session, the main indexes tested key technical levels and passed, at least for now.
The S&P 500 briefly fell below 1200, but recovered.
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