Dow jumps nearly 600 points as tech stocks rally

Traders work at the New York Stock Exchange in New York, the United States, March 15, 2022. U.S. stocks rose noticeably on Tuesday, buoyed by a comeback in tech names. The Dow Jones Industrial Average jumped 599.10 points, or 1.82 percent, to 33,544.34. The S&P 500 was up 89.34 points, or 2.14 percent, to 4,262.45. The Nasdaq Composite Index increased 367.40 points, or 2.92 percent, to 12,948.62. (Courtney Crow/NYSE/handout via Xinhua)

NEW YORK, March 15 (Xinhua) -- U.S. stocks rose noticeably on Tuesday, buoyed by a comeback in tech names.

The Dow Jones Industrial Average jumped 599.10 points, or 1.82 percent, to 33,544.34. The S&P 500 was up 89.34 points, or 2.14 percent, to 4,262.45. The Nasdaq Composite Index increased 367.40 points, or 2.92 percent, to 12,948.62.

Ten of the 11 primary S&P 500 sectors ended in green, with technology and consumer discretionary up 3.43 percent and 3.39 percent, respectively, leading the gainers. Energy slipped 3.72 percent, the lone decliner.

U.S.-listed Chinese companies traded mostly higher with seven the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

Investors are awaiting a key decision from the Federal Reserve on Wednesday.

"Traders will shift their attention to the Fed when they are widely expected to announce their first quarter point rate hike in years," Kevin Matras, executive vice president at Zacks Investment Research, said Tuesday in a note.

"With inflation at 40-years highs, and likely to climb even higher, the markets are likely to cheer the move as it shows the Fed finally taking action after being accused of watching and doing nothing for far too long," he said.

Meanwhile, investors continue to monitor the peace talks between Ukrainian and Russian delegations. 

A trader works at the New York Stock Exchange in New York, the United States, March 15, 2022. U.S. stocks rose noticeably on Tuesday, buoyed by a comeback in tech names. The Dow Jones Industrial Average jumped 599.10 points, or 1.82 percent, to 33,544.34. The S&P 500 was up 89.34 points, or 2.14 percent, to 4,262.45. The Nasdaq Composite Index increased 367.40 points, or 2.92 percent, to 12,948.62. (Courtney Crow/NYSE/handout via Xinhua)

Traders work at the New York Stock Exchange in New York, the United States, March 15, 2022. U.S. stocks rose noticeably on Tuesday, buoyed by a comeback in tech names. The Dow Jones Industrial Average jumped 599.10 points, or 1.82 percent, to 33,544.34. The S&P 500 was up 89.34 points, or 2.14 percent, to 4,262.45. The Nasdaq Composite Index increased 367.40 points, or 2.92 percent, to 12,948.62. (Courtney Crow/NYSE/handout via Xinhua)

A trader works at the New York Stock Exchange in New York, the United States, March 15, 2022. U.S. stocks rose noticeably on Tuesday, buoyed by a comeback in tech names. The Dow Jones Industrial Average jumped 599.10 points, or 1.82 percent, to 33,544.34. The S&P 500 was up 89.34 points, or 2.14 percent, to 4,262.45. The Nasdaq Composite Index increased 367.40 points, or 2.92 percent, to 12,948.62. (Courtney Crow/NYSE/handout via Xinhua)