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April 22 - U.S. stocks rebounded sharply on Tuesday morning, recovering from Monday's sharp sell-off driven by tensions between President Donald Trump and Federal Reserve Chair Jerome Powell.
The Nasdaq Composite led the gains, rising 2.1%. The S&P 500 followed closely with a 1.9% increase, while the Dow Jones Industrial Average also climbed 1.9%.
All 11 sectors of the S&P 500 were in the green, with Consumer Discretionary and Utilities seeing the largest gains. Industrials, though the weakest performer, also posted gains.
In the bond market, U.S. Treasury yields moved in mixed directions. The U.S. 2-Year Treasury yield (US2Y) rose by 2 basis points to 3.79%, while the U.S. 10-Year Treasury yield (US10Y) fell 3 basis points to 4.37%.
Shares of 3M (NYSE:MMM) surged 7.5% after the company reported stronger-than-expected Q1 results. GE Aerospace (NYSE:GE) also saw gains following a double-digit increase in revenue. Investors are also watching for Tesla's (NASDAQ:TSLA) earnings report, with Morgan Stanley forecasting a weak 12.7% auto margin for Q1.
This article first appeared on GuruFocus.