Automotive Industry

Tech and consumer companies lead stocks higher

Tech and consumer companies lead stocks higher

U.S. stocks rebounded Tuesday and climbed after a survey showed consumer confidence is at a nine-year high, a sign Americans will keep spending in the months to come. Technology and consumer stocks made the largest gains.

The market opened lower after two days of losses but quickly recovered. The consumer confidence report gave major indexes a boost and they locked in a big gain by early afternoon.

Technology companies jumped, and solid results from cruise line operator Carnival pushed up travel-related companies. Energy companies slumped with oil prices as hopes for an international cut in fuel production faded.

U.S. consumer confidence reached its highest level this...

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