U.S. equity indexes ended this volatile session on a mixed note, after the release of the minutes from the Federal Reserve’s June policy meeting created uncertainty over when and if the central bank will start to trim the stimulus.

Attention shifted to focus on the speech by Chairman Ben Bernanke to begin after the closing bell. The Chairman says the U.S. economy still needs help from the Fed’ low interest rate policies, and because unemployment remains high and inflation is below the Fed’s target, the policies are still necessary. However, just like the Fed’s minutes, Bernanke failed to signal any changes in the bond-buying program during his remarks.

On the markets, energy and financials displayed weakness throughout the day before settling near their lows. The energy sector shed 0.6% despite the continued rise in crude oil, which added 2.4% to $106.04 per barrel. The energy component has rallied steadily since late June, and reports of a well leak off the coast of Louisiana contributed to today’s strength.

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U.S. equities moved higher for a fourth-consecutive day on Tuesday amid optimism companies will report better-than-forecast earnings for the second quarter after Dow member Alcoa bested the Street’s earnings forecasts. Investors are betting that companies will be able to surpass the low bar set for earnings season, leaving room for better-than-expected results that could drive the rally further.

The S&P 500 has recovered all its losses following a 4.8 percent drop between June 19 and 24. The push higher in recent days has taken the benchmark to 1 percent below its all-time closing high of 1,669.16 reached on May 21, the day before Bernanke told Congress the Fed could taper purchases.

Stocks advanced today despite an unexpected decline in small business confidence. The National Federation of Independent Business Small Business Optimism Index deteriorated in June, pulling back from the highest level in a year, declining to 93.5, compared to the improvement to 94.9 that economists had expected.

Hiring plans for the next three months, however, picked up to the best level since last August. Its six-month average also advanced, which suggests the unemployment rate could decline further this summer. Of course, the creation of part-time jobs will likely accelerate at the expense of full time employment as the difference between quantity and quality becomes ever so obvious.

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