NEW YORK - It's been another astounding day on Wall Street, with the Dow Jones industrials soaring nearly 900 points as investors scooped up stocks that were pounded lower in recent sessions.

CBS

The Dow Jones Industrial Average and investors were looking up on Tuesday.

Analysts said some investors were buying in anticipation that the Federal Reserve will cut its fed funds rate by half a point to 1 percent on Wednesday. Others said the market had just fallen too far, with the Dow having dropped more than 500 points, the previous two trading days.

Still, the day was remarkable because investors brushed off a big drop in consumer confidence reported by the Conference Board.