Closing Bell: Markets Finish Big, BHP Leads Materials, Chevron CEO Out

Wall Street finished strong Tuesday.
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<L3 Name = "Kinsey Grant">
This is how markets closed this Tuesday, August TWENTY-SECOND.

<FS="Index full screen"> Bullet points:
-Dow finished up 200 points

-S&P 500 snags second-best day this summer

-Nasdaq tallied fifth-biggest daily gain this year
All three major indexes finished trading up, shaking off the malaise that marked the end of last week and the beginning of this one. The Dow reached nearly 200 points to finish Tuesday trading up close to 1% and mark one of its best days this summer. The S&P 500 locked in its second-best day this summer with gains of about 1%. And the Nasdaq rose over 1.3% for its fifth-biggest daily jump this year.

<FS="S STOCK"> Ticker: BHP Billiton Ltd., BHP

BHP Billiton staged a swing back to profit Tuesday after the company announced it's selling its U.S. shale oil unit. The resources company reported second quarter earnings of $1.10 per share. BHP led materials stocks to finish off trading as the market's best performers. Rio Tinto, Dow Chemical, Vale and Praxair were all higher, sending the Materials Select Sector SPDR ETF up over 1%.

<FS="S STOCK"> Back to anchor, Lower third: CHEVRON CEO STEPPING DOWN

Chevron stock jumped late Tuesday as reports surfaced that its CEO is out. John Watson will reportedly leave Chevron as soon as next month. Current vice chairman Michael Wirth is considered first pick to take the helm at Chevron once Watson is gone.

<FS="S STOCK"> Ticker: Toll Brothers Inc., TOL

Even as the broader market saw big gains, Toll Brothers wasn't so lucky. The homebuilder finished Tuesday down 2.5% after quarterly sales figures fell short of analyst estimates. Although revenue surged 18.1% over last year, it missed forecasts and hampered the company's earnings beat.

<L3 Name = "Kinsey Grant">
And that's where the markets finished Tuesday. In New York, I'm Kinsey Grant for TheStreet.