Wall Street rallies on US rate-cut hopes, bond yields rise
Updated : June 05, 2019 06:29 AM IST
In a brief statement included as part of a speech on broader monetary policy issues, Powell said the Fed was "closely monitoring the implications" of ongoing trade disputes.
The Dow Jones Industrial Average rose 512.4 points, or 2.06 percent, to 25,332.18, the S&P 500 gained 58.82 points, or 2.14 percent, to 2,803.27 and the Nasdaq Composite added 194.10 points, or 2.65 percent, to 7,527.12.
In late US trading, benchmark 10-year Treasury yields rose 4.50 basis points to 2.126 percent after hitting 2.061 percent Monday.
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