NEW YORK (TheStreet) -- U.S. stock markets were popping Tuesday afternoon on reports China is injecting large-scale stimulus to its top banks and the Federal Reserve might preserve the dovish language of its policy statement.
Watch the video below for a closer look at how U.S. markets are doing in midday trading Tuesday:
The Dow Jones Industrial Average
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Stocks broke out of their narrow trading range after a Sina.com report said the People's Bank of China is using its standing lending-facility to boost liquidity in the country's five biggest banks by 500 billion yuan ($81 billion). Also, the Wall Street Journal's Jon Hilsenrath reported that the Fed may be keeping its "considerable time" wording on near-zero interest rates in Wednesday's policy projections.
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Commodity ETFs picked up traction on renewed stimulus bets. The SPDR Gold Trust (GLD) was up 0.21%. The United States Oil Fund (USO) rose 2%.
In Tuesday's individual stock news, Alibaba, the e-commerce giant, raised the price range of its initial public offering because of strong demand to $66 to $68 a share, up from its previously set range of $60 to $66 apiece.