The U.S. markets saw gains across the board Tuesday as stocks turned positive on sentiment from a Wall Street Journal report saying that the Fed could continue its market-friendly interest rate policies. Fed Chairwoman Janet Yellen is scheduled to deliver her policy statement on Wednesday. On the economic side, August producer prices remained flat from July, allaying inflation concerns, while crude oil surged ahead of inventory numbers -- sending energy stocks climbing.
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Crude oil leapt 2.11% to settle at $94.88, gaining $1.96 per barrel. Gold settled slightly higher at $1,236.7 per ounce, a gain of $1.6 or 0.13%.
All of the major indexes saw significant gains, with the Dow Industrials (INDEXDJX:DJI) hitting a new intraday record high of 17,167.05 before retreating slightly to close at 17,131.97, up 100.83 points or 0.59% on the day. The broader S&P 500 (INDEXSP:GSPC) fared even better, gaining 0.75% to close up 14.85 points at 1,998.98.
The NASDAQ Composite (NASDAQ:IXIC) rebounded from Monday’s sell-off, jumping 33.86 points to close at 4,552.76, a gain of 0.75%. And the NASDAQ 100 jumped 0.93% to close up 37.38 points at 4,067.27.
The small cap Russell 2000 also rebounded, making up for some of Monday’s losses, gaining 0.39% to close at 1,150.97, up 4.45 points. Meanwhile, The FOX 50 followed the markets higher to gain 0.63%, or 8.79 points, closing at 1,412.36.