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 U.S. stocks took a fresh leg higher Tuesday morning after President Donald tweeted that he had a productive call| with Chinese President Xi Jinping related to tariffs. "Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting." The Dow Jones Industrial Average rose 350 points, or 1.4%, at 26,465, the S&P 500 index climbed 1.3% at 2,927, while the Nasdaq Composite Index advanced 1.8% to 7,985. The two leaders are slated to meet at the sidelines of the Group of 20 meeting in Tokyo, where it is expected that they will talk about resolving the protracted Sino-American trade war that has roiled global stocks. Markets had already been buoyant at the open on remarks made by European Central Bank President Mario Draghi, who said further stimulus in Europe might be needed if the economy continues to show weakness and inflation doesn't regain its footing. Those comments come as the Federal Reserve is set to kick off a two-day policy meeting where investors hope a rate cut is hinted.
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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 Canada's main stock index opened higher
on Tuesday, as precious metal miners were lifted by gold prices
nearing 14-month highs ahead of the Federal Reserve's two-day
monetary policy meeting.
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 U.S. stocks on Tuesday are set to extend the previous session's gains ahead of the start of the Federal Reserve's two-day policy meeting.
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U.S. stocks on Tuesday climbed, extending Monday's gains, as investors awaited the start of the Federal Reserve's two-day policy meeting, set to kick off later Tuesday morning. Comments by European Central Bank President Mario Draghi about his view that rate cuts may be necessary if the economic climate in Europe worsens and if inflation fails to rise closer to the ECB's annual target at or near 2%. The Dow Jones Industrial Average rose 266 points, or 1%, at 26,368, the S&P 500 index climbed 0.9% to 2,915, while the Nasdaq Composite Index jumped 1.3% at 7,943. Draghi said ECB policy makers would consider "in the coming weeks" how to adapt their policy tools "commensurate to the severity of the risk" to the economic outlook, which was taken as an indication that the central bank might consider further easing measures. Draghi's comments sent the euro falling against the dollar and sent global debt yields tumbling, with the 10-year Treasury note falling to its lowest in about 21 months at 2.03%. In economic news, a report on housing starts, a measure of home-building in the U.S., fell 0.9% in May from the prior month to a seasonally adjusted annual rate of 1.269 million, the Commerce Department. In corporate news, investors were focused on shares of Facebook Inc. after the social-media giant announced plans to roll out a cryptocurrency called Libra coin.
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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 U.S. stocks opened at their highest level in six-weeks on Tuesday, with Nasdaq leading the charge, as dovish calls from the European Central Bank raised expectations of a similar accommodative stance from the Federal Reserve.
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Japan's Nikkei dropped to a
1-1/2-week low in choppy trade on Tuesday but most investors
stayed on the sidelines ahead of a U.S. central bank policy
decision later in the week.
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The Fed is unlikely to cut rates once and leave it be. Like roaches, there is rarely just one. Interest rates are raised gradually, to combat potential inflation and curb speculative economic activity (yeah, good luck with that!), and they are reduced the same way....gradually, successively.
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 Dow futures sharply higher as ECB hints at rate cuts ahead of Fed meeting
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It can pay to go against the stock market's initial reaction to the Fed's decision, writes Mark Hulbert.
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