Stocks notch modest gains | Natural gas surges | Fed’s rate hike expected Wednesday

Stocks stabilized a bit on Tuesday, possibly giving investors a foothold ahead of Wednesday's Fed decision.

VIEW IN BROWSER | SUBSCRIBE TUE, MAY 03, 2022 EVENING BRIEF AS OF TUE, MAY 03, 2022 • 04:49 ET DJIA 33128.79 +0.20% +67.29 S&P 500 4175.48 +0.48% +20.10 NASDAQ 12563.76 +0.22% +27.74 Most Active DOW NAME LAST CHG %CHG AAPL 159.48 +1.52 +0.96% INTC 45.06 +0.10 +0.22% VZ 47.17 +0.94 +2.03% S&P 500 NAME LAST CHG %CHG AMD 91.13 +1.29 +1.44% AAPL 159.48 +1.52 +0.96% T 19.33 +0.21 +1.10% NASDAQ NAME LAST CHG %CHG AMD 91.13 +1.29 +1.44% AAPL 159.48 +1.52 +0.96% NVDA 196.02 +0.69 +0.35% EDITOR'S NOTE Stocks stabilized a bit on Tuesday, possibly giving investors a foothold ahead of Wednesday's Federal Reserve decision.   But after a big drawdown in April, the question is whether stocks can make a real move high to cut their losses for the year.   The last major rally came after the March Fed meeting, and just like this time, stocks had fallen in the weeks preceding the central bank's updated statement.  With the S&P 500 falling into correction territory, and the 10-year Treasury yield briefly pushing above 3% on Monday, markets could be due for another snapback.    Callie Cox, U.S. investment analyst at eToro, said that the market appears to be pricing in a "worst-case scenario" of an aggressive Fed and a recession, setting up a potential relief rally for stocks if a more friendly outcome emerges.    "The Fed may be a little bit behind the curve, but markets are way ahead of the curve," Cox said.  Jesse Pound | CNBC Markets Reporter @jesserpound Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks rise for second straight day ahead of expected Fed hike Supreme Court says leaked abortion draft is authentic; Roberts orders investigation into leak Job openings and the level of people quitting their jobs reached records in March The Fed is expected to raise rates by a half point. Investors wonder if it will get more aggressive Own the 'MANG' stock portfolio instead of 'FAANG' in these conditions, Jefferies says Natural gas surges as much as 9% to highest level since 2008 as Russia's war roils energy markets Paul Tudor Jones says he can't think of a worse financial environment for stocks or bonds right now Biden visits a Javelin missile manufacturing plant; U.K. Prime Minister Boris Johnson pledges a new $375 million package of military aid The one short-term trading strategy that even Warren Buffett does First Apple store union vote set to start June 2 in Atlanta TOP VIDEO The main driver of gas prices is the rally in global power prices and coal, says BofA's Blanch CNBC PRO These ETFs offer protection to investors worried about a recession, Citi says SPECIAL REPORTS Relying on stocks for a near-term purchase? What to consider as the market gyrates Student debt ticks higher as the future of loan forgiveness remains uncertain Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS