Stocks surged on Tuesday, climbing back from a big rout in the past month after Federal Reserve Chairman Jerome Powell signaled the central bank was open to easing monetary policy to save the economy and as trade tensions eased amid comments by China and Mexico.
The Dow Jones Industrial Average surged 512.40 points or 2.1% to 25,332.18. The S&P 500 jumped 2.1% to 2,803.27 and the Nasdaq Composite surged 2.7% to 7,527.12. The major indexes had their second-best day of 2019.
Stocks finished the day at their highs, rallying into the close on speculation Republican lawmakers would block President Donald Trump’s efforts to implement new Mexican tariffs on a national-emergency basis.