GLOBAL MARKETS-Stocks rebound on Powell policy remarks

MSCI's benchmark for global equity markets closed up 0.04% at 674.03, while the Dow Jones Industrial Average eked out a gain of 0.05% and the S&P 500 rose 0.13%.

NEW YORK: A gauge of global equity markets rebounded in a late-session rally on Tuesday after U.S. Federal Reserve Chair Jerome Powell calmed fears of rising interest rates that have roiled bonds and helped spur assets linked to expectations of a strong recovery.

Copper, a leading indicator of the economic cycle, touched a 9-1/2 year high before paring early gains, while crude settled near break-even. But oil edged up as the Dow and S&P 500 rose into the black and Tesla recouped most steep losses.