Stocks closed higher on signs that the United States could reach a trade deal with China. Markets were unfazed by the turmoil surrounding the impeachment inquiry into President Donald Trump.
It was the best day for stocks in two weeks. The S&P 500 and the Nasdaq Composite both snapped three-day losing streaks.
Marathon Petroleum (MPC) was the best performer in the S&P 500, closing more than 8% higher after activist investor Elliott Management called for the company to split up. Marathon said it would thoroughly evaluate the proposal.