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S&P/ASX 200 rises 1.73% to snap four-day losing streak

Gold fell for a second straight session on Tuesday to US$1,904.34 per ounce as the US dollar climbed to a near two-month peak.

S&P/ASX 200
Brent crude oil price fell 0.5% to US$41.51 following a rise in US crude inventories

S&P/ASX 200 (INDEXASX:XJO) recovered from a three-month low and a four-day selloff to rise 100 points or 1.73% to 5884 by around 1.30 pm.

Tech stocks in the US provided a solid platform for the index to rise with the largest 40 companies by market cap on the ASX all rising.

Local buy now, pay later players have surged with Afterpay (ASX:APT) rising 3.96% and rival Zip Co (ASX:Z1P) up 2.81%.

US update

On Tuesday, the major US indices snapped multi-day losing streaks, all closing in the green.

The Dow Jones Industrial Average surged 140 points and the S&P 500 climbed 1.1%.

The tech-heavy Nasdaq Composite was the relative outperformer, rising 1.7% as Amazon.com, Inc (NASDAQ:AMZN) surged 5.7%.

Stock gains were capped by concerns about an uptick in COVID-19 cases in the UK coupled with a bleaker outlook for a second stimulus bill from the US Congress.

U.S. COVID-19 deaths topped 200,000 on Tuesday, according to data compiled by Johns Hopkins University.

Top gainers

Today’s top gainers on the ASX include Nelson Resources Ltd (ASX:NES) (+13.85%), Engage:BDR Ltd (ASX:EN1) (+20.00%), Greenland Minerals Ltd (ASX:GGG) (+23.53%), Andromeda Metals Ltd (ASX:AND) (+15.00%), Vrx Silica Ltd (ASX:VRX) (+45.45%), Anson Resources Ltd (ASX:ASN) (+26.32%), FYI Resources Ltd (ASX:FYI) (+18.75%) and Brookside Energy Ltd (ASX:BRK) (+20.00%).

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