Cannabis Watch: Cannabis stocks lifted by Dow’s rally, hopes for bill that would protect states that have legalized weed

Cannabis stocks rose Tuesday, buoyed by gains in the broader market and hopes for a bill that would block the Justice Department from interfering in states that have legalized weed for medical or recreational use.

The Dow Jones Industrial Average DJIA, +1.32% rallied almost 400 points, or 1.5%, while the S&P 500 index SPX, +1.03% was up 33 points, or 1.3%, after President Donald Trump tweeted that had a productive conversation with Chinese counterpart Xi Jinping. The news bolstered hopes for a resolution of the current trade conflict between the two nations.

Separately, ECB President Mario Draghi hinted at further eurozone stimulus in comments that fueled hopes the Federal Reserve will signal its willingness to cut interest rates this year at a meeting due to start later Tuesday.

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