Stocks drifted to a mostly higher close following a strong report on consumer confidence and growing hopes that the Federal Reserve is finished with its aggressive interest rate hikes.

The S&P 500 rose 0.1% Tuesday. The Dow Jones Industrial Average added 83 points and the Nasdaq composite climbed 0.3%.

Treasury yields fell after Christopher Waller, a member of the Federal Reserve's Board of Governors, said he was 'increasingly confident' that the Fed could get inflation back down to its 2% target.

The Conference Board's November consumer confidence survey came in higher than analysts were expecting.