General Motors CEO Mary Barra testified before the House Energy and Commerce Committee as U.S. lawmakers challenged Barra over the automaker's slow response to defective ignition switches in its cars. Since February, GM has recalled 2.6 million vehicles due to concerns about ignition switches that unexpectedly turn off engines during operation and leave airbags, power steering and power brakes inoperable.  Separately, GM said its auto sales rose 4.1 percent in March, above estimates for 0.5 percent.  Ford advanced after the automaker said March auto sales rose 3.4 percent, exceeding expectations. Japanese rival Toyota said sales rose 5 percent, also topping estimates.  Intuitive Surgical surged to lead the S&P 500 gainers after the FDA granted marketing clearance for the company's da Vinci Xi Surgical System, a surgical platform designed to enable complex surgery using a minimally invasive approach.  Investors will remain focused on the monthly government jobs report, due Friday. Economists polled by Reuters expect a gain of 197,000 new jobs in March. The U.S. created 175,000 jobs in February, exceeding expectations.  Fed Chair Janet Yellen gave stocks a boost on Monday when she said the central bank would stay accommodative for some time. Her dovish comments countered an earlier statement to the effect that the Fed could raise interest rates within six months of ending its asset-buying program.  Read MoreYellen: Fed's in it for long haul with cheap money  "The market has pushed up the timing of the first rate hike from August to May of 2015, and the Fed is clearly pushing back against that," said John Briggs, head of cross-asset strategy at RBS. "If you get strong data, that divergence could widen, and if it's weak data, the market is more likely to listen to the Fed's dovish overtone."  Meanwhile, emerging markets extended their rally, with the iShares MSCI Emerging Markets ETF higher for the ninth-consecutive session, up more than 7 percent.
Stocks held modest gains across the board Tuesday after the S&P 500 briefly shot to a fresh intraday record, as investors digested the latest batch of economic reports.