U.S. stocks broke a three-day losing streak Tuesday and ushered in the new year with broad gains. Health care stocks, which struggled for most of last year, climbed.

Stocks started the day with a surge as the Dow Jones industrial average rose 175 points in the first hour of trading. Bond yields jumped, which took bank stocks higher. The price of oil also rose early on, but it began slipping later in the morning. Investors started buying again late in the day, however, and major indexes closed with a flourish.

Energy companies, banks and technology companies made some of the largest gains and lower-risk investments like utility companies lagged the rest of the market. That's a sign investors expect stronger economic growth that will help those companies do more business.

“Corporate earnings are telling us that it's a bull market,” said Karyn Cavanaugh of Voya Investment Strategies. Cavanaugh said earnings and revenue look “very good” for 2017.

The Dow Jones industrial average jumped 119.16 points, or 0.6 percent, to 19,881.76.

The Standard & Poor's 500 index rose 19 points, or 0.8 percent, to 2,257.83. The Nasdaq composite gained 45.97 points, or 0.9 percent, to 5,429.08.

Construction spending rises 0.9%

U.S. builders boosted spending on construction projects for a second straight month in November, pushing activity to the highest level in more than a decade.

Construction spending rose 0.9 percent in November after a 0.6 percent increase in October, the Commerce Department reported Tuesday. The increase reflected solid gains in home construction, nonresidential building and government construction activity.

The gains in all three categories pushed total construction to a seasonally adjusted annual rate of $1.18 trillion, the highest point since April 2006 when a housing boom fueled building.

Economists think construction gains will continue in 2017, reflecting a strong job market.

FDA to hold e-cigarette hearings

The U.S. Food and Drug Administration is probing the dangers of exploding batteries in e-cigarettes, following dozens of reports of devices that have combusted, overheated or caught fire and sometimes injured users.

The agency announced a two-day public meeting for April, according to an online posting.

The Associated Press reported last month that 66 explosions were identified by the FDA in 2015 and early 2016.

Last year the FDA announced it would begin to regulate the fast-growing industry, requiring makers of e-cigarettes to submit their devices and ingredients for review for the first time.

THE BOTTOM LINE

313,000 The number of Hyundai Sonata midsize cars that U.S. safety regulators say is covered by an investigation into complaints that front passenger seat belts can fail. The National Highway Traffic Safety Administration said Tuesday the investigation covers the 2013 Sonata. The agency says it has two complaints that seat belts detached. One injury was reported. A message was left seeking comment from Hyundai.