(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, Monex 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.”
