Stocks moved broadly higher in early trading on Wall Street Tuesday, extending the market's solid gains from the day before.
Healthcare stocks and several big retailers also fell Tuesday.
Both sectors have taken the heaviest losses this month as fear that the US trade war with China is hampering global economic growth roiled markets. China's foreign ministry, however, reiterated on Tuesday that it had not received any recent US telephone calls on trade.
Uncertainty over whether the trade war between the US and China will drag the economy into a recession has roiled markets and sent investors seeking shelter in bonds, gold and other traditional safe-haven assets.
Even so, long-term bond yields remained even with short-term ones, just shy of a so-called inversion in the US yield curve that has correctly predicted previous recessions.
The yield on Australia's benchmark 10-year note, which moves inversely to its price, slumped almost 3-1/2 basis points to 0.884 percent, the yield on the long-term 30-year bond plunged 6 basis points to 1.489 percent and the yield on short-term 2-year slipped 1-1/2 basis points to 0.724 percent by 03:50GMT. This move also put the 30-year yield below yields of US debt of far shorter duration such as 3-month and 1-month Treasury bills.
European equities have dropped sharply with Germany's DAX down 1.1%, the Euro Stoxx 50 down 0.9%, and Britain's FTSE 100 down 0.2%. At the moment, the yield on a 10-year is 1.463%, as compared to 1.51% on a two-year.
The Dow Jones Industrial Average rose 176.7 points, or 0.69 percent, to 25,954.6, the S&P 500 gained 14.87 points, or 0.52 percent, to 2,884.03 and the Nasdaq Composite added 23.83 points, or 0.3 percent, to 7,850.78.
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Among those offering condolences was Secretary of State Mike Pompeo who, like the Koch brothers , is from Kansas. But unlike David Koch , she didn't cheat death. "In a personal way, he was such a warm and gracious man".
The S&P 500 was up 0.5% as of 12:40 p.m. Eastern Time. The benchmark index has fallen for the past four weeks in a row.
The two major central banks are expected to cut rates next month, while many investors believe the Bank of Japan could join the fray if market sentiment weakens further. If those losses hold, August would be the second monthly drop for the market this year after May.
Uncertainty over the U.S. On Friday, US President Donald Trump announced an additional duty on some $550 billion of targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of US goods.
Bond prices continued to rise as investors sought safety.
When the yield curve inverted earlier this month for the first time since 2007, it led to a broad market sell-off.
For example, many other countries' long-term bonds now carry negative yields, making U.S. Treasurys more attractive to overseas investors. Altria has focused on cigarette sales in the United States.
"From an economic point of view, actively pursuing a no-deal Brexit through suspending Parliament is tantamount to actively pursuing a recession", said Ms Seema Shah, Chief Strategist, Principal Global Investors in London. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news.