Financial companies pushed stock indexes higher Tuesday on signs that banks may soon raise their dividends. Financial stocks in the S&P 500 index rose 2.2 percent, the most of any of the index's 10 company groups. American Express Co. gained 3.5 percent, and JPMorgan Chase & Co. gained 2.6 percent. Falling oil prices also helped stocks move higher. Oil prices dipped 0.5 percent to $105 a barrel after Kuwait's oil minister said that OPEC members are in informal talks about raising oil output as the conflict in Libya continues.
The Dow Jones industrial average rose 124.35, or 1 percent, to 12,214.38.
The Standard & Poor's 500 index rose 11.69, or 0.9 percent, to 1,321.82.
The Nasdaq rose 20.14, or 0.7 percent, to 2,765.77
For the week:
The Dow is up 45.5, or 0.4 percent.
The S&P is up 0.67, or 0.1 percent.
The Nasdaq is down 18.9, or 0.7 percent.
For the year to date:
The Dow is up 636.87, or 5.5 percent.
The S&P is up 64.15 or 5.1 percent.
The Nasdaq is up 112.9, or 4.3 percent.