Wall Street extends gains ahead of Friday's payrolls data
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Stocks rose for a second day on Tuesday, helped by strong June car sales, while concerns receded about the Federal Reserve's plans to pare its massive bond-buying program.
Shares of automakers Ford Motor Co (F.N) and rival General Motors (GM.N) rose after the companies reported strong sales last month. Ford said the overall U.S. auto industry will report its best monthly sales rate since December 2007.
Ford's stock advanced 1.8 percent to $16.02 after the automaker said June U.S. car sales rose 13.4 percent. Shares of GM added 0.6 percent to $34.21. Both stocks were less than 1 percent away from 52-week highs.
Nine of the 10 S&P 500 industry sector indexes were higher, led by advances in energy, financials and tech. SW Energy Co (SWN.N) and Baker Hughes Inc (BHI.N) ranked among the S&P 500's biggest gainers.
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