4:26 EDT
Tech stocks boosted the Nasdaq to a big win in the stock market today, while the Dow Jones industrials finished close behind as all but one of the 30 components rose.
The Nasdaq composite roared back 2.6%, while the Dow Jones Industrial Average and S&P 500 each rallied 2.1%. Small caps scored big gains too as tracked by the Russell 2000, which rose 2.6%. Preliminary data showed lighter volume on the NYSE and Nasdaq vs. Monday.
The S&P 500 reclaimed its 200-day moving average, a bullish move. Meantime, the Nasdaq also closed just above its long-term trend line. The Dow Jones index finished about 1% below its 200-day.
Expectations of a possible rate cut fueled the market rally. Federal Reserve chief Jerome Powell said Tuesday the central bank is closely watching trade developments after President Trump's tariff decisions and will "act as appropriate" to maintain expansion.....MORE
Nike (NKE), Dow (DOW), Goldman Sachs (GS), Apple (AAPL), Walgreens Boots Alliance (WBA) and IBM (IBM) were among nine Dow Jones stocks with gains of 3% or more apiece. Nike rallied nearly 5% to retake its 200-day line.
Apple rebounded more than 3% as it tries to stem a nearly five-week slide. Apple, Facebook (FB), Amazon (AMZN) and Google parent Alphabet (GOOGL) suffered big losses Monday amid antitrust probe concerns. Apple managed to pare a steeper loss to 2% by Monday's close, but the three FANG stocks sold off more than 5% each.
Facebook on Tuesday found support at its 200-day line and rose 2%, Amazon gained more than 2% and Alphabet added 1.5%....
Earlier at IBD:
3:10 EDT
Tech Leads As Market Rebound Rolls; FANG Stocks Bite Back
