The Dow Jones Industrial Average was rallying Tuesday afternoon, with the blue-chip gauge on track to book its sharpest one-day rise in about four months. The Dow most recently was up about 200 points, or 0.9%, at 21,901, which would represent the average’s best single-session rise since April 25 when it climbed 232 points, or 1.1%, according to FactSet data. The price-weighted gauge’s advance was supported by early climbs in components Boeing Co.
and Goldman Sachs Group Inc.
Tuesday’s uptrend also appears to be bolstered by renewed enthusiasm in risk assets, like equities, following a tough past few weeks for stock benchmarks and worries about turmoil within President Donald Trump’s administration, which could undermine the president’s ability to push through previously pledged fiscal-stimulus legislation. Overall, the market was bucking higher, with the Nasdaq Composite Index
surging 1.4% at 6,293 and on pace to snap its 4-session slump and book its best single-session advance since June 28, while the S&P 500 index
was up 1% at 2,453 and on track to add to Monday’s climb. Some market participants were attributing the recent rally to a Politico report that said Trump’s policy team was making progress on a plan for changes to tax law.
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Dow posts biggest one-day gain in nearly 4 months