Wall Street built on its recent gains and closed higher Tuesday as talks on ending the war in Ukraine showed signs of progress.

The S&P 500 rose 1.2%, the Dow Jones Industrial Average rose 1% and the Nasdaq rose 1.8%. Technology and communications stocks led the gains.

Energy stocks were lagging behind again as oil prices sank. Turkey's foreign minister says Russian and Ukrainian negotiators have reached "a consensus and common understanding" on some issues and Russia said it is cutting back some operations.

Treasury yields fell again. European markets were higher and Asian markets closed mixed overnight.