Stocks extend rally in trade to the upside Dow +267.63 at 25742.65, Nasdaq +56.33 at 9608.40, S&P +25.09 at 3080.69 [BRIEFING.COM] The S&P 500 increased 0.8% on Tuesday, paced higher by all 11 of its sectors in a "pain trade" to the upside. The Dow Jones Industrial Average increased 1.1%, the Nasdaq Composite increased 0.6%, and the Russell 2000 increased 0.9%. Cyclical sectors that stand to benefit directly from an increase in economic activity, such as the S&P 500 energy (+2.7%), materials (+1.8%), and industrials (+1.3%) sectors, saw the biggest gains today. A strong finish into the close also lifted the consumer staples (+0.2%) and communication services (+0.5%) sectors into positive territory. Some attributed the strong finish to a report from Sputnik News, which indicated that a limited COVID-19 vaccine could come by the end of the year, according to a U.S. Army medical researcher. The gains above reflected the persistent reopening enthusiasm, but the price action was described as a "pain trade" due to underallocated investors, awaiting a pullback, presumably giving in to chase the market higher. That's what it felt like, at least, as many have been awestruck by the market's furious rally off its March 23 low. Visa ($V 193.36, +2.01, +1.0%) and Western Union ($WU 23.05, +2.34, +11.3%) were among the latest companies noting stabilizing/improving conditions in May, providing some assurance for bullish investors. Visa, specifically, saw total U.S. payments volume decline just 5% yr/yr in May versus an 18% decline in April. Western Union shares were also boosted by news that it's seeking to acquire smaller rival MoneyGram ($MGI 3.36, +0.77, +29.7%), according to Bloomberg Law. Separately, Goldman Sachs ($GS 204.14, +4.21, +2.1%) and Microsoft ($MSFT 184.91, +2.08, +1.1%) received price-target increases to $230 and $250, respectively, at Wells Fargo. The turnaround in MSFT shares, which were down nearly 1% intraday, helped support the broader market in afternoon trade. U.S. Treasuries ended the session on a lower note, pushing yields slightly higher. The 2-yr yield increased two basis points to 0.16%, and the 10-yr yield increased two basis points to 0.68%. The U.S. Dollar Index declined 0.1% to 97.72. WTI crude rose 3.8%, or $1.35, to $36.80/BBL. Investors did not receive any notable economic reports on Tuesday. Looking ahead, investors will receive the ADP Employment Change report for May, the ISM Non-Manufacturing Index for May, Factory Orders for April, and the weekly MBA Mortgage Applications Index on Wednesday. Nasdaq Composite +7.1% YTDS&P 500 -4.6% YTDDow Jones Industrial Average -9.8% YTDRussell 2000 -15.0% YTD Market Snapshot Dow25742.65+267.63(1.05%)Nasdaq9608.40+56.33(0.59%)SP 5003080.69+25.09(0.82%)10-yr Note -2/320.678NYSEAdv 2146 Dec 753 Vol 1.0 blnNasdaqAdv 2017 Dec 1240 Vol 3.9 bln Industry Watch Strong: Energy, Materials, IndustrialsWeak: Consumer Staples Moving the Market -- Stock market closes near session highs in "pain trade"-- Continued optimism about an economic recovery; cyclical sectors outperformed -- Turnaround in mega-cap stocks supported the market's strong finishStocks end higher despite continued unrest spreading in U.S. cities Equity markets in the U.S. extended recent gains as states and businesses continue to reopen and expectations rise that governments will add even more stimulus to the already sizable amounts previously implemented. The rally continues despite souring China relations and persistent civil unrest in the U.S. remaining headwinds. ECONOMIC EVENTS: In energy markets, WTI crude oil prices hit a new three-month high ahead of the open. At Thursday's OPEC+ meeting it is widely expected that existing production cuts are likely to be extended beyond the end of June. TOP NEWS: Share prices for gunmakers continued their recent surge amid social unrest and COVID-19 uncertainty. Yesterday, the FBI reported that National Instant Criminal Background Check System checks increased by an adjusted 75.2% year-over-year in May and Lake Street analyst Mark Smith has said he views the "unprecedented" firearm demand as likely to continue into June and through the presidential election this fall. Publicly traded gunmakers include Sturm, Ruger ($RGR), Smith & Wesson Brands ($SWBI), and Vista Outdoor ($VSTO). Shares of Western Union ($WU) and MoneyGram ($MGI) gained 11.2% and 29.7%, respectively, after Bloomberg's Ed Hammond reported last night that Western Union recently made an acquisition offer for it rival remittance firm. Apple ($AAPL) has cut the prices of the iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max and iPhone SE in China ahead of a major online shopping festival held in June, CNBC reported. Meanwhile, shares of Planet Fitness ($PLNT) finished 9.4% higher after the company announced that it had reopened approximately 800 stores across 30 states and one province in Canada as of June 1. Following the news, Roth Capital analyst George Kelly argued that the update was a positive for other fitness stocks Nautilus ($NLS) and Peloton ($PTON). MAJOR MOVERS: Among the noteworthy gainers was Wayfair ($W), which rose 12.9% after Piper Sandler analyst Peter Keith raised his price target on the stock, saying industry checks with suppliers and retailers indicated "steady/strengthening" online sales for home furnishings in May compared to April. Also higher was Arena Pharmaceuticals ($ARNA), which advanced 16.2% after Bristol-Myers ($BMY) reported positive ulcerative colitis data that analysts said had positive read-through to Arena's own drug in the same class. Among the notable losers was Evolent Health ($EVH), which slid 6.7% after Cantor Fitzgerald analyst Steven Halper downgraded the stock to Neutral from Overweight, citing the company's announcement on Friday that Passport was not successful in its Kentucky Medicaid rebid. Also lower was Tiffany ($TIF), which fell 8.8% after Miles Socha of Women's Wear Daily reported, citing sources, that LVMH's ($LVMUY) takeover bid is "suddenly looking a lot less certain" after members of the board of the luxury giant met specifically to discuss the proposed deal given the deteriorating situation in the U.S.Source: (Briefing.com)(theFly.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. . Want to trade some of these stocks?Are you interested in trading stocks to supplement your income or make a living? Maybe become a professional trader? Many traders have the skills and nerves to trade, but not the upfront capital. Well now that problem is solved!Try2BeFunded has expanded its trading program! If you're a novice or experienced trader, you can earn access to a trading account with up to $100,000! To learn more about how to qualify, click HERE and give it a shot! You have nothing to lose it is free to try.Give Try2BeFunded a try! .