U.S. stocks ended higher for the third straight session on Tuesday as market sentiment was still lifted by euro zone stimulus hopes.

The Dow Jones industrial average gained 50.86 points, or 0.39 percent, to 13,168.37, led by Cisco and Boeing.

The Standard & Poor's 500 added 7.12 points, or 0.51 percent, to 1,401.35, the first time for the average to settle above 1,400 since May.

Most S&P sectors were in positive territory, led by energy and financials, while defensive sectors such as utilities and telecoms were in the red.

The Nasdaq Composite Index also topped the key 3,000 level, rising 25.95 points, or 0.87 percent, to end at 3,015.86.

Over the past three sessions, the blue-chip Dow has rallied about 300 points, which was seen as "totally irrational" by some analysts.

However, stocks continued to climb the wall of worry despite of all the uncertainties. Investors seemed optimistic after remarks from Mario Draghi, president of the European Central Bank (ECB), helped lower borrowing costs of Spain and Italy. They believed the ECB will unveil even more policies to deal with the region's debt crisis.

Meanwhile, German industrial orders fell more than expected in June, further supporting the idea of more action from the ECB.
Also adding to the hopes, Boston Federal Reserve President Eric Rosengren reiterated his call for the central bank to expand monetary policy and called for more quantitative easing.

Although Rosengren is not a voting member on the Fed's Open Market Committee this year, his remarks still fueled the speculation that more and more central bankers were supportive for further easing.

Tuesday's domestic economy data was not drawing much attention, lacking the strength to set the tone for the market.
According to the Labor Department, the number of job openings at the end of June ticked up from a month earlier to 3.8 million, while the hiring rate was little changed.

In other markets, the U.S. dollar slipped against major currencies in late New York trading as investors expected more monetary stimulus policies from central banks.

Crude prices jumped on Tuesday on supply worries amid the Middle East tension and hurricane in the Gulf of Mexico.

Light, sweet crude for September delivery gained 1.47 dollars, or 1.59 percent, to settle at 93.67 dollars a barrel on the New York Mercantile Exchange.

VietNamNet/Xinhuanet