Wall Street closing more than 1% Tuesday

U.S. Stocks finished up more than 1 percent Tuesday, despite continued worries over the European banking system. In U.S. economic news, the Treasury Department released its monthly budget report that showed a $125 billion deficit. The dollar fell against the euro and the pound, but rose versus the yen. Light sweet crude oil for July delivery gained 62 cents to $83.32 a barrel on the New York Mercantile Exchange. Gold futures gained $17 to $1,613.80 an ounce. The Dow Jones industrial average rose 162.57, or 1.31 percent, to 12,573.80. The Dow’s biggest gainers were JPMorgan Chase, Bank of America, and Citigroup, all up between 2.5 percent and 4.5 percent. The broader Standard & Poor’s 500 index moved up 15.25, or 1.17 percent, to 1,324.18. The technology-heavy Nasdaq composite index gained 33.34, or 1.19 percent, to 2,843.07.