Stocks rally to end another volatile day

U.S. stocks ended a tumultuous day sharply higher, with all major averages rising at least 1.4 percent as volatility continues to grip equity markets during earn- ings season. Treasuries fell and the dollar rose.

The S&P 500 Index twice erased gains that topped 1 percent before finally secur- ing a rebound in the final hour of trading. All 11 main groups rose, with consumer and commodity shares pacing gains. The average flirted with a correction earlier Tuesday and is still down more than 8 percent in Octo- ber, on track for its worst month of the bull market.

More than four shares rose for every one that fell in the S&P 500. Take-Two Inter- active and Under Armour surged on strong results. General Electric slumped to the lowest since 2009.

The Tuesday rally was welcomed by U.S. stock investors on edge after largely stellar earnings have failed to provide sustained relief to selling that began amid concern that rising rates will crimp economic growth. Attention will turn to major tech results including from Apple and Friday’s jobs report.

Trade also remains in focus, while the American midterm elections on Nov. 6 have started creeping into the calculus.

“The largest risks are the trade war and rising rates,” saidMichael O’Rourke, JonesTrading’s chief market strategist. “The stock market is going to do what it’s going to do whether you vote Republican or Democrat.”