Stocks moved higher Tuesday, as the technology sector held its ground a day after a sharp sell-off
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The Dow Jones Industrial Average rose 116.36 points, or 0.47%, 24,727.27. The S&P 500 gained 4.02 points, or 0.15%, to 2,716.94. The Nasdaq Composite was up 20.06 points, or 0.27%, at 7,364.30.
The major tech names were mixed Tuesday, with Facebook experiencing its second-straight session of losses. The social media giant took a big hit on Monday, closing with a 6.8% loss, following news that a firm tied to President Donald Trump's 2016 election campaign gathered data from millions of Facebook profiles without authorization. Facebook shares fell 2.6% on Tuesday.
Federal Reserve Chairman Jerome Powell’s first policy-setting meeting began Tuesday, but traders will have to wait for the conclusion of the two-day meeting to learn the fate of interest rates.
The CME FedWatch tool has the likelihood of a rate hike at 94.4%.
Gold futures were lower, while oil advanced to a one-month high on declining Venezuelan output and increased tensions in the Middle East.
Ken Martin contributed to this report