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Dow jumps nearly 500 points at open as bond yields retreat on revived hopes for Fed pivot

dow-jumps-nearly-500-points-at-open-as-bond-yields-retreat-on-revived-hopes-for-fed-pivot

U.S. stocks opened higher on Tuesday, adding to their gains from Monday’s session as global bond yields continued to decline and talk of a possible “pivot” from the Federal Reserve intensified after the Reserve Bank of Australia delivered a smaller-than-expected 25 basis-point interest-rate hike. The Dow Jones Industrial Average DJIA, +1.90% rose 475 points, or 1.6%, to 29,966. The S&P 500 SPX, +2.15% climbed 69 points, or 1.9%, to 3,748. The Nasdaq Composite COMP, +2.49% advanced 257 points, or 2.4%, to 11,073. Stocks rose sharply on Monday, with the Dow gaining more than 750 points while the S&P 500 saw its biggest percentage-point gain since late July. The 2-year Treasury yield bx:tmumbmusd02Y was down 2.5 basis points at 4.080%.

Source: Marketwatch

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