The S&P 500 rose on Tuesday as investors hunted for bargains a day after a steep sell?off. Shares that led the market down on Monday, when the market suffered its worst one?day loss in two months, were among the positive influences, including banks, energy and materials. Energy shares also got a boost from a 2.6 percent gain in U.S. oil futures prices. There was also caution a day ahead of the Federal Reserve's assessment of economic conditions.

After its two?day meeting ends Wednesday, the Fed is widely expected to leave the benchmark fed funds rate at almost zero. But investors will check its statement closely for clues on the central bank's economic outlook.

The dollar fell by the most in six weeks against the euro, sending oil, gasoline, gold and sugar higher, amid speculation the Federal Reserve will temper expectations for an interest?rate increase this year. Stocks and Treasuries gained.

The greenback extended declines as European Central Bank council member Axel Weber said policy makers have already used up their room to cut borrowing costs, adding to speculation the euro? area’s benchmark rate will stay higher than the rate in the U.S.

Crude oil rose more than $1 a barrel, gasoline climbed for the first time in five days and gold and silver increased, as a weaker dollar bolstered the appeal of commodity futures as an alternative investment.

Sugar jumped to the highest in almost three years on rising signs that a production deficit may extend into a second year and as the dollar weakened. Raw?sugar futures for October delivery rose 0.74 cent, or .6 percent, to 16.98 cents a pound on ICE Futures U.S. in New York. Asian stocks fluctuated as gains among technology and energy shares overshadowed declines by finance companies.

Japan’s export slump deepened in May, casting doubt on the nation’s growth prospects as the economy struggles to emerge from its worst postwar recession.

Shipments abroad dropped 40.9 percent from a year earlier, more than April’s 39.1 percent decline