Stocks closed higher on Wall Street, recovering some of last week's losses and pulling closer to their record highs.

The S&P 500 rose 0.8% Tuesday and got back within 1% of its record set earlier this month.

Markets have been rising on enthusiasm about a coming economic recovery as COVID-19 vaccines roll out and amid expectations that Washington will soon try to deliver another round of economic stimulus.

President-elect Joe Biden's nominee for Treasury Secretary, former Fed Chair Janet Yellen, called on Congress to do more for the economy in testimony before the Senate.