(By Salman - iStockAnalyst Writer)US stocks rose on Tuesday on optimism Obama's massive stimulus plan will pull the US economy out of recession.

The Dow Jones Industrial Average climbed 62.21 points or 0.69% to finish at 9,015.10. The S&P 500 added 7.25 points or 0.78% to end at 934.70. The Nasdaq Composite increased 24.35 points or 1.50% to 1,652.38.

President-elect Barack Obama wants the new Democratic-controlled Congress to quickly approve the stimulus plan in order to counter deepening recession. Obama said in a statement "The economy is very sick. The situation is getting worse. ... We have to act and act now to break the momentum of this recession. I expect to be able to sign a bill shortly after taking office. When questioned on the timing, he said, "By the end of January or the first of February." Obama is also understood to have told House Speaker Nancy Pelosi that he favors a price tag of about $775 billion for the U.S. economic stimulus package.
 
Financial stocks rallied on Tuesday. Citigroup (NYSE: C) jumped 38 cents or 5.37% to $7.46. American Express Co. (NYSE: AXP) surged $1.12 or 5.61% to $21.07. Bank of America Corp. (NYSE: BAC) and J.P Morgan (NYSE: JPM) rose over 2% each. Morgan Stanley (NYSE: MS) leaped $1.96 or 11.12% to $19.58.

General Motors Corp. (NYSE: GM) soared 23 cents or 6.20% to $3.94. Ford Motor Co. (NYSE: F) increased 18 cents or 6.98% to $2.76. Japanese auto giant Toyota Motor Corp. (NYSE: TM) on Tuesday announced that it will suspend production at factories in Japan for a combined 11 days in response to a sharp drop in the global demand for cars. Shares of Toyota Motor Corp. finished at $66.41, up 79 cents or 1.20%.   

Technology stocks finished with strong gains. Hewlett-Packard Co. (NASDAQ: HPQ) rose $2.98 or 8.20% to $39.31. Chipmaker Intel Corp. (NASDAQ: INTC) gained 46 cents or 3.09% to $15.37.CIENA Corp. (NASDAQ: CIEN) skyrocketed $1.32 or 18.64% to $8.40 after Barclays analysts raised recommendation on the stock to overweight from equal weight.

Walt Disney Co. (NYSE: DIS) rallied 81 cents or 3.45% to $24.31.

Dow Chemicals (NYSE: DOW) jumped $1 or 6.64% it said that it may take legal action on failed Kuwait deal. Chief Executive Andrew Liveris said in a statement "PIC is in breach of contract, and we must take action to protect the interests of our company and our shareholders."

The world's largest maker of computer mouse, Logitech International SA (NASDAQ: LOGI) plunged 95 cents or 5.90% to $15.16 after it announced that it will reduce 15% of its salaried workforce. The company also and withdrew its fiscal 2009 financial targets. Chief Executive Gerald Quindlen said in a statement "During the December quarter, the retail environment deteriorated significantly."

Late on Monday, fertilizer company Mosaic Co.