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Wall Street gains on rate-cut hopes; tech leads rebound

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

“His comments are not as aggressively dovish as Bullard’s yesterday but he does reiterate the same concerns: trade tensions and low inflation,” said John Doyle, vice president of dealing and trading, Tempus Inc, Washington D.C.

“We are likely seeing the beginning of coordinated Fed-speak to prep market participants for at least one rate cut this year.”

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