US equity indexes rebounded, led higher by technology, and gold scaled a new record high in midday trading on Tuesday.
The Nasdaq jumped 3.3% to 16,385.9, with the S&P 500 up 2.9% to 5,305.4 and the Dow Jones Industrial Average 2.8% higher at 39,240.6. The strong intraday gains follow Monday's steep declines that coincided with renewed criticism by President Donald Trump of Jerome Powell, the chairman of the Federal Reserve, while calling for interest-rate cuts.
All sectors rose intraday, with technology, consumer discretionary, and communication services among the top gainers.
Gold futures rose 0.1% to $3,428.00 per ounce, after hitting a new record high of $3,509.90 earlier in the session.
US Treasury yields traded mixed, with the 10-year down 3 basis points to 4.38% while the two-year rate was up 5.6 basis points to 3.81%.
In company news, Equifax (EFX) reported Q1 adjusted earnings and operating revenue that beat the market's expectations. The company raised its sales guidance for fiscal 2025. Its shares soared 15% intraday, the top performer on the S&P 500.
Northrop Grumman (NOC), down 13% intraday, was the worst performer on the index. The company reported Q1 earnings and sales that missed consensus, and its guidance for the full-year 2025 adjusted earnings per share also lagged expectations.
West Texas Intermediate crude oil futures advanced 3.1% to $65.04 a barrel.
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