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May 5, 2020 / 12:12 PM / Updated May 5, 2020 at 4:39 PM

Strong tech stocks, rebounding oil prices fuel slight gains on Wall Street

The New York Stock Exchange is seen Monday on Wall Street in New York City. The main trading floor of the exchange remains closed and traders are conducting business remotely. Photo by John Angelillo/UPI

The New York Stock Exchange is seen Monday on Wall Street in New York City. The main trading floor of the exchange remains closed and traders are conducting business remotely. Photo by John Angelillo/UPI | License Photo

May 5 (UPI) -- U.S. stocks rose slightly on Tuesday, driven upward by a rise in tech stocks and a rebound in oil prices.

The Dow Jones Industrial Average closed up 133.33 points, or 0.56 percent, while the S&P 500 rose 0.9 percent and the Nasdaq Composite climbed 1.13 percent after all three showed small gains Monday to begin the week.

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Tech stocks influenced trading Tuesday as Google stock rose 1.97 percent, Apple gained 1.5 percent and Microsoft climbed 1.07 percent.

The main impact appeared to be a rebound in oil prices. West Texas Intermediate grew by more than 20 percent to $24.59 per barrel and Brent crude rose nearly 15 percent to $31.16 per barrel.

Stocks were also buoyed by an announcement Tuesday from Pfizer that human testing trials for a potential coronavirus vaccine have started.

Pfizer stock rose 2.37 percent, while the healthcare, tech and energy sectors drove the S&P 500 higher.

Visitors wear face masks as they tour the Whitney Museum of American Art as it reopens on September 3. Photo by John Angelillo/UPI | License Photo

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