LIVE MARKETS-Dow, energy stocks in focus; all eyes on Powell

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DOW ENERGY STOCKS IN FOCUS; ALL EYES ON POWELL

Both the S&P 500 and Dow hit fresh record intraday highs early Tuesday, although only the blue-chip index stayed afloat as the morning progressed, while the S&P 500 paused as investors are bracing for remarks from Chair Jerome Powell at 12:35 p.m. ET.

Powell's speech could be pivotal for rate expectations, with markets parsing mixed signals from Fed officials, some of whom are advocating a cautious pace of cuts to keep inflation in check.

Energy stocks led early gains, tracking a rebound in crude prices. Halliburton HAL.N surged nearly 8%, while Diamondback Energy FANG.O and APA Corp APA.O jumped 4.8% and 4.4%, respectively, topping the S&P 500 .SPX leaderboard.

UnitedHealth UNH.N and Boeing BA.N each rose about 2.5%, lifting the Dow .DJI. Boeing got a boost after President Donald Trump said Uzbekistan Airways signed an $8 billion deal with the planemaker.

McKesson MCK.N climbed 5% after the drug distributor raised its profit forecast.

The S&P energy index .SPNY was the best-performing sector, while consumer discretionary .SPLRCD lagged.

Here's a market snapshot as of 10:33 a.m. ET:

(Medha Singh)

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