(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: U.S. stocks surged Tuesday, rebounding sharply from recent declines after Federal Reserve officials hinted the central bank could lower interest rates if the economy slows in response to escalating tariffs and economic uncertainty.
The Dow Jones Industrial Average advanced 512 points, or 2.06%, to 25321. The S&P 500 climbed 2.14%. The broad equity gauge has been sliding recently and ended Monday at its lowest level since March 8, 6.8% below its April 30 record. It was on track for its largest one-day advance since January.
Shares of technology companies also rose, a day after fears about heightened regulation pushed the tech-laden Nasdaq Composite into correction territory, down more than 10% from last month’s all-time high. The Nasdaq was up 2.6% on Tuesday.
Tuesday’s stock-market rally came after Federal Reserve Bank of St. Louis President James Bullard said Monday that a lowering of rates “may be warranted soon.” Many economists now project the Fed to cut interest rates to support U.S. growth.
Fed Chairman Jerome Powell then said in remarks Tuesday that the central bank is closely monitoring the recent escalation in trade tensions and that it would respond if needed to keep the economy growing steadily.
Beaten-down technology and internet stocks were among the market’s leaders Tuesday, with shares of Netflix, Apple and Twitter advancing 3% or more. The PHLX Semiconductor Index, down 15% in the past month, rebounded 3.5%.
Treasury yields also climbed Tuesday, with the benchmark 10-year U.S. Treasury yield advancing to 2.130%, according to Tradeweb, from 2.085% a day earlier. Bond yields rise as prices fall and closed Monday at their lowest level since September 2017 with investors seeking safety in U.S. Treasurys lately.
Earlier, Hong Kong’s Hang Seng Index fell 0.5%, China’s Shanghai Stock Exchange fell 1% and Korea’s Kospi was broadly flat. Australia’s S&P ASX 200 advanced 0.2% after the Reserve Bank of Australia cut interest rates.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-06-04/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-market-set-to-stage-rebound-after-nasdaq-enters-correction-phase-2019-06-04/printWSJ:
https://www.wsj.com/articles/global-stocks-slide-after-u-s-tech-selloff-11559634893Bloomberg:
https://www.bloomberg.com/news/articles/2019-06-03/asia-stocks-look-to-steady-as-bonds-extend-gains-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-salesforce-stock-pivotal-stock-rewalk-robotics-fda-ok/CNBC:
https://www.cnbc.com/2019/06/04/stock-market-wall-street-monitors-trade-and-growth-concerns.htmlReuters:
https://www.reuters.com/article/us-global-markets/stocks-jump-amid-rate-cut-hopes-tech-shares-bounce-bond-yields-rise-idUSKCN1T5066?il=0U.K:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-higher-as-trade-respite-lifts-banks-miners-idUKKCN1T50QQEurope:
https://www.reuters.com/article/us-europe-stocks/european-stocks-driven-higher-by-car-makers-idUSKCN1T50SEAsia:
https://www.cnbc.com/2019/06/04/stock-market-wall-street-monitors-trade-and-growth-concerns.htmlBonds:
https://www.cnbc.com/2019/06/04/us-bonds-treasurys-tick-higher-as-investors-await-economic-data.htmlCurrencies:
https://www.cnbc.com/2019/06/04/forex-market-fed-rate-cut-expectations-us-trade-tensions-in-focus.htmlOil:
https://www.cnbc.com/2019/06/04/oil-market-opec-supply-cuts-global-economic-slowdown-in-focus.htmlGold:
https://www.cnbc.com/2019/06/04/gold-market-us-china-trade-tensions-global-economy-fears-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
