US stocks were higher on Tuesday, trimming the selloff from the prior session as markets continued to assess risks to the autonomy of the Federal Reserve and the uncertain economic policy route by the Presidential administration. The S&P 500, the Nasdaq 100, and the Dow were all up by slightly more than 1%.
Equities booked sharp losses at the start of the week, aligning with declines in Treasury securities and the US dollar after President Trump and cabinet members signaled pressure on Fed Chair Powell to be replaced.
This extended the pivot away from dollar assets amid ongoing trade wars raised by the US, and postulated lingering doubts on US exceptionalism that has driven domestic equity markets to outperform global peers for the last decades.
General Electric jumped 4.5% and Verizon lost 1% after posting earnings before the bell. Meanwhile, Tesla rose 2% ahead of its key results after the close, trimming yesterday's 6% slump.
Source: Trading Economics
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