Why Mastercard Stock Soared 3.7% on Tuesday

Mastercard (NYSE: MA) finished the day 3.7% higher on Tuesday after jumping as high as 4.6% just before noon ET. The stock is currently trading at $301.27, down 16% year to date.

The credit card giant rode the momentum of another strong day for stocks as the Dow Jones Industrial Average was up 825 points (2.8%), the S&P 500 was up 112 points (3.1%), and the Nasdaq was up 360 points (3.3%). It was the second straight day that the Dow topped 800 points.

There were a few factors that drove the market higher on Tuesday and perhaps a catalyst that impacted Mastercard specifically.

Source Fool.com