FED STIMULUS HOPES: Stocks staged one of their strongest rallies of the year Tuesday, erasing a big decline from the day before, after Charles Evans, president of the Fed's Chicago bank, told Bloomberg News he supported action to produce faster job growth.

SPAIN'S COSTS RISE: Spain's borrowing costs jumped to the highest level since Spain adopted the euro currency. The interest rate, or yield, on Spain's 10-year bond rose as high as 6.81 percent.

LUXURY HOLDS UP: Michael Kors Holdings reported that its fourth-quarter profit more than tripled on strong demand for its luxury clothing and accessories. The company raised its earnings forecast for the quarter and the year.