US Stocks Rose on Tech Rebound and Fed Rate Cut

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U.S. stocks rose on Tuesday, led by a rebound in the technology sector, as Federal Reserve Chair Jerome Powell said the central bank would act “as appropriate” to trade war risks, leaving the door open for a possible rate cut.

A day after St. Louis Fed chief James Bullard said a rate cut may be warranted soon, Powell said the Fed was “closely monitoring the implications” of a trade dispute that has disrupted global markets and posed risks to growth.

Wall Street’s main indexes have shed more than 6 percent in May on fears of a recession as trade tensions between the United States and China show little signs of easing.

via Reuters

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