Market Snapshot: Dow up more than 400 points after Powell remarks seen leaving door open to rate cut

Stocks rose sharply Tuesday, extending gains after remarks by Federal Reserve Chairman Jerome Powell were seen by some investors as opening the door to a rate cut. Support was also tied to renewed hopes tensions between the U.S. and its major trading partners would die down.

Key indexes were bouncing back from a loss a day earlier that saw the tech-heavy Nasdaq Composite fall into correction territory on fears of heightened regulatory scrutiny of key companies.

How are stock benchmarks faring?

The Dow Jones Industrial Average DJIA, +1.67% rose 422.67 points, or 1.7%, to 25,242.45, while the S&P 500 SPX, +1.62% was up 43.45 points, or 1.6%, to 2,787.90.

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