The Dow Jones Industrial Average jumped 526.82 points, or 2.04 percent, to 26,289.98. The S&P 500 rose 58.15 points, or 1.90 percent, to 3,124.74. The Nasdaq Composite Index increased 169.84 points, or 1.75 percent, to 9,895.87.
ALL the 11 primary S&P 500 sectors ended higher, with energy and health care up 2.82 percent and 2.44 percent, respectively, leading the gains.
U.S. retail sales soared 17.7 percent in May, following a revised 14.7-percent slump in April, the U.S. Department of Commerce reported on Tuesday. The reading exceeded market consensus.
"Due to recent events surrounding COVID-19, many businesses are operating on a limited capacity or have ceased operations completely," the department said in a statement, commenting on the impact of the pandemic.
Investors also digested the U.S. Federal Reserve's latest measures to support market liquidity amid the COVID-19 pandemic.
The Fed said Monday it would begin buying individual corporate bonds under its Secondary Market Corporate Credit Facility.
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