Small cap gains bode well for bull market -strategist

Wall Street indexes climbed higher on Tuesday, with small caps having a better day than most, recovering from a weak start to the year.

Stovall said it's possible investors believe the Federal Reserve will not be as aggressive with raising interest rates this year.

Small business sentiment dimmed in January as inflation prompted the percentage of owners that intend to pass the pain along to their customers by hiking selling prices reached the highest level since 1974.