The S&P 500 index exited market-correction territory Tuesday, a move that has tended to point to near- and medium-term gains for the U.S. large-cap benchmark in the past.
The S&P 500 SPX rose 56.08 points, or 1.2%, to close at 4,631.60 in Tuesday’s session. The index needed to close above 4,587.77 to mark a 10% rise from its March 8 close at 4,170.70, which marked the correction low, according to Dow Jones Market Data. The S&P 500 fell into a market correction on Feb. 22, when it finished more than 10% below its Jan. 3 record…