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 * Dollar rebounds, gold retreats as Powell casts doubt on
rate cut
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 U.S. stocks slump after Federal Reserve Chairman Jerome Powell said he wanted to avoid a knee-jerk reaction to any one data point
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Micron Technology Inc. shares rise in the extended session Tuesday after the memory-chip maker's results top lowered expectations for the quarter and executives forecast improvement in the fourth quarter even though actual numbers were shy of Wall Street expectations.
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* Dollar rebounds, gold retreats as Powell casts doubt on
rate cut
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 Shares of AeroVironment Inc. fell more than 13% in the extended session Tuesday after the defense and aerospace company reported fiscal fourth-quarter profit below Wall Street expectations. AeroVironment said it earned $5.7 million, or 24 cents a share, compared with $16.8 million, or 70 cents a share, in the year-ago period. Revenue fell 23% to $88 million, the company said, mostly on a decrease of product sales. Analysts polled by FactSet had expected the company to report EPS of 28 cents on sales of $82 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Target Corp. late Tuesday announced its first-ever "Target Deal Days," scheduled for July 15 and 16, to build upon the success of last year's one-day sales event. Amazon.com Inc. had announced earlier Tuesday its Prime Day event will fall on the same dates, stretching over two days for the first time. Target's event will include "rarely-on-sale, exclusive home, apparel and toy brands" as well as discounts and new deals each day, the company said in a press release. Target's One-Day Sale last year was one of the company's biggest online sales day, the retailer said. Shares of Target and Amazon were flat in the extended session after ending the regular trading day down 1.2% and 1.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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The Dow Jones Industrial Average midday Tuesday retreated to the lows of the session, along with the broader market, after a Federal Reserve member signaled that substantial rate cuts next month may not be needed. The Dow declined by more than 100 points, or 0.4%, at 26,625, representing Tuesday's nadir, as St. Louis Federal Reserve President James Bullard said that a rate cut by as many as half a percentage point, or 50 basis points, may not be warranted. Bullard said I don't think we have to take huge action," Bullard said in an interview on Bloomberg Television. Bullard was the lone dissenter last Wednesday among members of the rate-setting Federal Open Market Committee, which voted to keep rates steady at a range between 2.25% and 2.50%. Bullard would likely advocate for a more modest 25 basis point cut in July. Market participants have been betting that the FOMC will cut rates by at least 50 basis points this year due to slowing economic expansion that has arguably been exacerbated by the Sino-American tariff clash. The S&P 500 index was down 0.6% at 2,926, while the Nasdaq Composite Index gave up 1.1% to reach 7,930, as the broader market deepened its losses. Rate cuts for Wall Street translate to lower borrowing costs to corporations and are seen as bullish for buying if the economy doesn't fall into a recession.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Stock market hits intraday lows as Fed's Bullard downplays 'huge action' in July
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 Oil prices ticked up on Tuesday after the U.S. market open on anticipation that data due later would show crude stocks there declined, erasing earlier losses linked to concerns over waning demand
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