Wall Street recovers some losses, closes higher ahead of Fed rate decision

US stocks rose on Tuesday, to rebound from the massive losses hit on Monday, despite the lingering concerns over the coronavirus outbreak.

The Chinese government revealed the virus' death rose to more than one hundred and infected more than 5,000 victims.

Chinese President Xi Jinping stressed his confidence in Beijing's ability to contain the virus, and welcomed cooperation with the World Health Organization.

Data showed today that the US durable goods orders rose by 2.4% in December, in the largest surge since April 2019.

The Federal Reserve will unveil its interest rate decision tomorrow, with forecasts for the bank to keep the rate unchanged, and will be followed by a press conference from the Fed's chief Jerome Powell.

To the oil market, West Texas Intermediate (WTI) rose by 0.6% to close at $53.48 a barrel, after hitting a day high of $53.9 and a low of $52.6.

Brent rose 0.3% to $59.51 a barrel, and hit a high of $60.1 and a low of $58.5.

As for stocks, Dow Jones added 0.7% or 187 points to close at 28,723, and hit an intraday high 28,823 and a low 28,575.

Nasdaq climbed 1.4% or 130 points to 9,269 points, with a high of 9,288 and a low of 9,182 points.

S&P 500 rose 1% or 32 points to close at 3,267 with a high of 3,285 and a low of 3,253.