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Uber ( UBER ) jumps after Q2 revenue beat

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Caterpillar ( CAT ) rises after Q2 profit beat

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Indexes up: Dow up 1.9%, S&P 500 up 2.4%, Nasdaq up 2.6%

(Updates to 2:30 p.m. ET)

By Caroline Valetkevitch

NEW YORK, Aug 6 (Reuters) -

The S&P 500 and Nasdaq each rose 2% on Tuesday, while the

Dow was up 1% a day after a sharp sell-off as recent comments by

Federal Reserve officials eased recession worries.

All major S&P 500 sectors were sharply higher, with

technology and real estate up the most.

Among

U.S. central bankers

, Chicago Fed President Austan Goolsbee

said

on Monday that last week's disappointing jobs report was

not necessarily a recessionary sign.

Nvidia ( NVDA ) jumped about 7%, giving the biggest

boost to the S&P 500 and Nasdaq, a day after falling more than

6%.

"The market had just gotten top heavy, but it did reprice a

decent amount, particularly the Nasdaq, and people are coming

back to the idea that with lower rates it should provide a

support for stocks," said Rick Meckler, partner at Cherry Lane

Investments, a family investment office in New Vernon, New

Jersey.

The Dow Jones Industrial Average rose 729.82

points, or 1.89%, to 39,433.09, the S&P 500 gained 124.46

points, or 2.40%, at 5,310.79 and the Nasdaq Composite

advanced 413.31 points, or 2.55%, to 16,613.39.

Traders are pricing in a 75% chance the Fed will cut

rates by 50 basis points at its next policy meeting in

September, and a 25% chance of a 25 basis point reduction. A 50

basis point cut was fully priced in on Monday, with a 75 basis

point cut also seen possible, the CME Group's FedWatch Tool

showed.

Stocks have sold off after weak economic data raised

worries of a U.S. recession.

Market concerns were exacerbated as investors wound down

yen-funded trades, used to finance acquisition of stocks for

years, after a surprise Bank of Japan rate hike last week.

The next big Fed event is Chair Jerome Powell's speech at

the Jackson Hole on Aug. 22-24.

Uber ( UBER ) shares rose 11.7% after the ride-sharing and

food delivery provider beat Wall Street estimates for

second-quarter revenue and core profit, helped by steady demand

for its services.

Caterpillar ( CAT ) added 4% after beating analysts'

estimates for second-quarter profit, as higher prices on its

larger excavators and other equipment countered moderating

demand in North America.

Advancing issues outnumbered decliners on the NYSE by a

3.78-to-1 ratio; on Nasdaq, a 2.88-to-1 ratio favored advancers.

The S&P 500 posted 12 new 52-week highs and five new

lows; the Nasdaq Composite recorded 29 new highs and 126 new

lows.

(Additional reporting by Shubham Batra and Shashwat Chauhan in

Bengaluru; Editing by Saumyadeb Chakrabarty, Shinjini Ganguli

and Richard Chang)