The FTSE, German DAX and French CAC 40 each closed up more than 1 percent Tuesday. U.S. major averages rebounded after the Labor Day long weekend to post gains of about 2.5 percent, their second-best day of the year.
The Nasdaq composite outperformed with gains of 2.7 percent to 4,811.93, out of correction and up 1.6 percent for 2015.
The S&P 500 closed up 2.5 percent at 1,969.41, also out of correction territory, or within 10 percent of its 52-week highs. The Dow Jones industrial average ended up 390 points to 16,492.68, within 0.2 percent of breaking out of correction mode.
Bruce Bittles, chief investment strategist at RW Baird, said the S&P 500 will likely remain in the 1,900 to 1,990 range "until the Fed does something next week."
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