U.S. stocks finished sharply higher Tuesday, with the Dow Jones Industrial Average snapping a five-day losing streak as regional banking stocks rose and investors weighed a report showing the rate of inflation slowed over the past year. The Dow DJIA closed about 1.1% higher, while the S&P 500 SPX gained 1.7% and the Nasdaq Composite COMP rose 2.1%, according to preliminary data from FactSet. Fresh data from the consumer-price index on Tuesday showed inflation rose in February in line with expectations, with the year-over-year rate cooling to 6% from 6.4% in January. Meanwhile, shares of regional banks such as First Republic Bank FRC rose Tuesday, after being pummeled in recent days after the failure of Silicon Valley Bank.
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