US stocks advance cautiously after Powell, Mnuchin testify

NEW YORK - Major US indices closed in positive territory on Tuesday for the first time in three sessions after testimony from top government officials rekindled hopes for more stimulus from Congress.The S&P 500 was at 3,315.57, a gain of 1.1 per cent, while the tech-rich Nasdaq Composite Index rose 1.7 per cent to end at 10,963.63.

"America is in the midst of the fastest economic recovery from any crisis in the US," Mnuchin said, acknowledging that"some industries particularly hard bit by the pandemic require additional relief," citing tourism and restaurants, among others.

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