U.S. stocks posted modest gains on Tuesday, resuming a strong rally in November that has been propelled by tumbling U.S. bond yields.
The Dow Jones Industrial Average closed up about 83 points, or 0.2%, ending near 35,416, according to preliminary FactSet data. The S&P 500 index was 0.1% higher, while the Nasdaq Composite Index closed up 0.3%.
Equity investors were emboldened after Fed Governor Christopher Waller said on Tuesday that a cooling economy could help bring inflation down to the central bank's 2% yearly target, even though he also said it's unclear if more interest rate hikes were warranted. The 10-year Treasury yield slipped to 4.335%, its lowest yield in about two months.