Market Wrap for Tuesday, July 9: Major Averages Closing in on Previous Highs

On Tuesday, stocks continued to push towards year-to-date highs last seen in late May. The S&P 500 breached the 1,650 level to the upside and the Dow closed around 300 points above the 15,000 level. After an early sell-off, the major averages rose throughout much of the afternoon and recorded