NEW YORK: Wall Street stocks rallied on Tuesday on upbeat comments on trade by the US and China ahead and as the ECB signalled it could cut interest rates.
The remarks raised hopes the two sides may finally strike a trade deal after multiple tariff actions on both sides.The broad-based S&P 500 rose 28.08 points to end the day at 2,917.75, while the tech-rich Nasdaq Composite Index advanced 108.86 points to 7,953.88.Trump's comments on the G-20 came after European Central Bank chief Mario Draghi said further interest rates cuts"remain part of our tools" in response to weakening growth.
Although the Fed is not expected to cut interest rates on Wednesday, investors have been heartened by more dovish comments lately from central bankers and will be analyzing Fed Chair Jerome Powell's statements for clues on future steps, which they hope will signal a clear willingness to boost the economy.
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