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Market Snapshot: Dow futures climb as ECB’s Draghi hints at rate cuts ahead of Fed meeting

  • President Trump tweeted that he had a “very good” telephone conversation with President Xi Jinping
  • ECB President Mario Draghi set the stage for a rally in stocks after hinting at further eurzone stimulus
  • Facebook officially launches its foray into cryptocurrencies, Libra coin

U.S. stock indexes headed sharply higher midday Tuesday, pushing the broad-market S&P 500 to within 1% of a closing record as President Donald Trump tweeted that had a productive conversation with Chinese counterpart Xi Jinping.

How are benchmarks faring?

The Dow Jones Industrial Average DJIA, +1.28% rose 330 points, or 1.3%, at 26,444, the S&P 500 index SPX, +1.00% advanced 31 points, or 1.1%, at 2,920, while Nasdaq Composite Index COMP, +1.46% climbed 121 points, or 1.6%, at 7,966.

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