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 - U.S. stocks bounced higher Tuesday, a day after a steep selloff triggered by an escalation in trade tensions between the U.S. and China.
The Dow Jones jumped 117 points, or 0.5%, to 25,441.89 points by 9:43 AM ET 
(13:43 GMT), while the S&P 500 gained 16 points, or 0.6%, 2,827.76 points and the tech-heavy NASDAQ Composite traded up 54 points, or 0.7%, at 7,700.57 points.
The gains came after a broad-based selloff on Wall Street Monday that saw the Nasdaq post its largest percentage drop this year and the worst performance in the Dow and S&P 500 since Jan. 3.
Investor sentiment was soothed somewhat after U.S. President Donald Trump said he plans to meet with his Chinese counterpart Xi Jinping at the meeting of G20 leaders next month.
"That'll be, I think, probably a very fruitful meeting,” he said.
Trump also predicted that the outcome of trade talks would come “in about three or four weeks.”
But the escalation has substantially changed the outlook for the stock market, some analysts say.
"If Trump is serious and slaps 25% tariffs on all imports from China, profits (at S&P 500 companies) could fall by between 20% and 30%," warned Deutsche Bank strategist Ulrich Stephan.
The Chinese government also said on Tuesday that both sides would continue to talk, fueling hopes that the recent escalation in tensions could be reversed.
Beijing announced Monday that it would place tariffs on about $60 billion in U.S. imports in retaliation for American tariff increases on its products.
Trump insisted via Twitter that “China wanted to make a deal” and took the opportunity to take another shot at the Federal Reserve.

“China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing. If the Federal Reserve ever did a ‘match,’ it would be game over, we win,” he tweeted.
Investors will look for signs to see if policymakers have shifted their expectations to stay on hold throughout the year. Fed officials Esther George and Mary Daly are scheduled for appearances later in the session and could give indications on whether the Fed would act to pre-empt any economic slowdown caused by the recent escalation of the trade dispute.
Earlier Tuesday, New York Fed President John Williams said slow recoveries from recessions and low inflation are here to stay unless policymakers can get a better grip on how to stabilize the global economy in an era of lower interest rates.
In earnings news, Ralph Lauren (NYSE:RL) produced better-than-expected quarterly results, while cannabis companies Tilray (NASDAQ:TLRY) and Aurora (NYSE:ACB) will report after the market close.
Outside of equities, the U.S. dollar index, which measures the greenback against six rival currencies, advanced 0.2% at 97.28 by 9:45 AM ET (13:45 GMT), while the yield on the 10-year Treasury edged forward 0.7 basis points at 2.41%.

 - U.S. stocks bounced higher Tuesday, a day after a steep selloff triggered by an escalation in trade tensions between the U.S. and China.
The Dow Jones jumped 117 points, or 0.5%, to 25,441.89 points by 9:43 AM ET 
(13:43 GMT), while the S&P 500 gained 16 points, or 0.6%, 2,827.76 points and the tech-heavy NASDAQ Composite traded up 54 points, or 0.7%, at 7,700.57 points.
The gains came after a broad-based selloff on Wall Street Monday that saw the Nasdaq post its largest percentage drop this year and the worst performance in the Dow and S&P 500 since Jan. 3.
Investor sentiment was soothed somewhat after U.S. President Donald Trump said he plans to meet with his Chinese counterpart Xi Jinping at the meeting of G20 leaders next month.
"That'll be, I think, probably a very fruitful meeting,” he said.
Trump also predicted that the outcome of trade talks would come “in about three or four weeks.”
But the escalation has substantially changed the outlook for the stock market, some analysts say.
"If Trump is serious and slaps 25% tariffs on all imports from China, profits (at S&P 500 companies) could fall by between 20% and 30%," warned Deutsche Bank strategist Ulrich Stephan.
The Chinese government also said on Tuesday that both sides would continue to talk, fueling hopes that the recent escalation in tensions could be reversed.
Beijing announced Monday that it would place tariffs on about $60 billion in U.S. imports in retaliation for American tariff increases on its products.
Trump insisted via Twitter that “China wanted to make a deal” and took the opportunity to take another shot at the Federal Reserve.

“China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing. If the Federal Reserve ever did a ‘match,’ it would be game over, we win,” he tweeted.
Investors will look for signs to see if policymakers have shifted their expectations to stay on hold throughout the year. Fed officials Esther George and Mary Daly are scheduled for appearances later in the session and could give indications on whether the Fed would act to pre-empt any economic slowdown caused by the recent escalation of the trade dispute.
Earlier Tuesday, New York Fed President John Williams said slow recoveries from recessions and low inflation are here to stay unless policymakers can get a better grip on how to stabilize the global economy in an era of lower interest rates.
In earnings news, Ralph Lauren (NYSE:RL) produced better-than-expected quarterly results, while cannabis companies Tilray (NASDAQ:TLRY) and Aurora (NYSE:ACB) will report after the market close.
Outside of equities, the U.S. dollar index, which measures the greenback against six rival currencies, advanced 0.2% at 97.28 by 9:45 AM ET (13:45 GMT), while the yield on the 10-year Treasury edged forward 0.7 basis points at 2.41%.

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