The stock market is posting back-to-back gains as GameStop’s chaos cools, investors analyze Google, Amazon results

US stocks ended sharply higher on Tuesday, with investors encouraged by news of the pace of vaccines in the US, the prospect of more fiscal support from Congress, and a diminished retail frenzy in highly short-short stocks like GameStop Corp. GME,
-60.00%
and AMC Entertainment Holdings AMC,
-41.20%.
The Dow Jones Industrial Average DJIA,
+ 1.57%
closed 1.6% up around 30,688, the S&P 500 index SPX,
+ 1.39%
Up 1.4% at 3,826, while the Nasdaq Composite Index COMP,
+ 1.56%
closed 1.6% higher and finished at 13,612. All closing levels are on a provisional basis. Market participants process quarterly results of mega-capitalization shares Amazon.com AMZN,
+ 1.11%
and Google parent company Alphabet Inc. GOOG,
+ 1.38%
GOOGL,
+ 1.38%
after the closing on Tuesday. Meanwhile, GameStop’s shares closed the day at 60% and are down 72% so far this week following a stratospheric run-up in recent days.