The Dow Jones Industrial Average jumped more than 500 points Tuesday as investors welcomed signals that the Federal Reserve may cut interest rates if multiple U.S. trade conflicts threaten the nation's economic expansion.
Technology companies led broad gains for U.S. stocks. The benchmark S&P 500 index notched its best day since January. Mexico's foreign minister said he expects his country will reach a deal with the U.S. and avoid tariffs.
The S&P 500 index gained 58.82 points, or 2.1%, to 2,803.27.
The Dow vaulted 512.40 points, or 2.1%, to 25,332.18.
The Nasdaq composite climbed 194.10 points, or 2.7%, to 7,527.12.
The Russell 2000 index of small companies picked up 38.58 points, or 2.6%, to 1,508.56.
For the week:
The S&P 500 is up 51.21 points, or 1.9%.
The Dow is up 517.14 points, or 2.1%.
The Nasdaq is up 73.97 points, or 1%.
The Russell 2000 is up 43.07 points, or 2.9%.
For the year:
The S&P 500 is up 296.42 points, or 11.8%.
The Dow is up 2,004.72 points, or 8.6%.
The Nasdaq is up 891.84 points, or 13.4%.
The Russell 2000 is up 160 points, or 11.9%.