DWDP - Dow Shoots Higher as Fed Meeting Opens
Stocks rose on Tuesday, broadly supported on expectations the Federal Reserve could strike a dovish tone at its latest monetary-policy meeting.
The Dow Jones Industrial Average popped 161.32 points by midday to 26,075.42, led by DowDuPont and Boeing.
The S&P 500 moved higher 16.87 points to 2,849.81, as the materials and health-care sectors outperformed.
The NASDAQ Composite climbed 51.5 points to 7,765.98
The Fed kicked off its two-day policy meeting on Tuesday. Market expectations for a rate hike are at zero, with most investors pricing in no change in policy. However, investors will look for clues on the Fed's economic outlook.
Stocks have been on a tear since the Fed's last meeting in late January. In that time, the S&P 500 has risen more than 5%. The broad index is also up more than 12% for 2019 in part because investors expect less policy tightening for the year.
Prices for the benchmark 10-year U.S. Treasury slumped, raising yields to 2.61% from Monday's 2.59%. Treasury prices and yields move in opposite directions.
Oil prices were down 13 cents to $58.96 U.S. a barrel.
Gold prices gained $5.90 to $1,307.40 U.S. an ounce.