U.S. stocksOpens a New Window. surged on Tuesday for the second straight day as the Federal ReserveOpens a New Window. began its two-day policy meeting and as the European Central Bank signaled it may soon cut interest rates.
President Trump, ahead of announcing his official 2020 run this evening, also gave equities an extra boost confirming he will meet with Chinese President Xi at the G-20 meeting in Japan via a Tweet. Investors viewed the development as a positive sign for progress on trade talks.
The Dow Jones Industrials and the Nasdaq Composite rallied over 1 percent, while the S&P 500 gained just under that level. As stocks rose, bonds also rallied pushing the yield on the 10-year Treasury to a 21 month low of 2.08 percent.
Boeing, flush with orders from the Paris Air Show despite the ongoing Max Jet crisis, helped power the broader market, while Amazon and Google led big tech.