The Dow Jones is looking for a foothold after a broad-market downturn.
Equities are widely higher on Tuesday, but still at the bottom of a long hole.
Investors continue to pine for Fed rate cuts, but “emergency cut” appears off the table.
The Dow Jones Industrial Average (DJIA) recovered ground on Tuesday, rallying close to 500 points after the index spent several days facing steep declines. Investors are recovering their balance after a broad downturn in key US economic data sent risk sentiment into the gutter and reignited broad-market fears of a recession within the US.
Markets have regained their composure after sending the Dow Jones for a 7% backslide from last week’s peak near 41,200.00, but Dow Jones bidders will have their work cut out for them to get price action back into the high end. The flow of US economic data has eased for the time being, but hopes for rate cuts from the Federal Reserve (Fed) continue to simmer in the background.
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