US stock indices climb as Middle East tensions calm down

US stock indices rose on Tuesday as Middle East tensions calmed down, hurting oil prices and boosted air travel shares.

Fed Chair Jerome Powell testified ahead of Congress that the Federal Reserve isn’t in a hurry to cut interest rates.

Trump continued his attacks against Powell and said he hoped Congress would take “this stubborn and stupid person” into account, adding that America will pay the price of “his stupidity” for many years to come.

Trump said there’s inflation in the US and the economy is doing great, and asked once more for interest rates to be down by two or three percentage points, which would save the government $800 billion a year.

On trading, Dow Jones rose 0.9%, or 377 points to 42,959 points, while S&P 500 rallied 0.8%, or 51 points to 6076 points, as NASDAQ added 1.2%, or 240 points to 19,872.