Dow, S&P 500 turn positive as Powell says end of balance sheet drawdown is near

(Reuters) – The Dow and the S&P 500 turned positive on Tuesday after Federal Reserve Chair Jerome Powell said the central bank may soon end its balance sheet runoff, easing investor concerns over tight financial conditions. At 12:27 p.m. ET, the Dow Jones Industrial Average rose 216.82 points, or 0.47%, to 46,284.03, the S&P 500 gained 3.08 points, or 0.05%, to 6,657.80 and the Nasdaq Composite lost 78.01 points, or 0.34%, to 22,617.72. (Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)

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