US stocks closed sharply higher on Tuesday, as the market rebounded from its worst performance of the year on Monday. That said, none of the three major stock benchmarks managed to fully recoup their losses.

The Dow closed up 1.2%, or 312 points, snapping a five-day losing streak.

closed up 1.2%, or 312 points, snapping a five-day losing streak. The S&P 500 finished 1.3% higher.

finished 1.3% higher. The Nasdaq Composite closed up 1.4%.

Both the S&P and the Nasdaq recorded their first positive close in seven days.

The CBOE Market Volatility Index, which was up more than 30% on Monday, came down 19%.

In the Dow, Nike (NKE), Walt Disney (DIS) and United Technologies (UTX) led gainers. Disney will report earnings after the closing bell.

Airplane parts manufacturer TransDigm (TDG) and video game company Take-Two (TTWO) were the best performers in the S&P after they reported second quarter earnings.