Wall Street nears record high on trade, earnings optimism

US stocks gain ahead of trade deal signing

"Acting tough with China and imposing tariffs two years before an election is a very different story than doing it two months before an election".

Overseas, the pan-continental Stoxx Europe 600 index ticked down less than 0.1%, and the Shanghai Composite closed 0.5% lower.

Nasdaq Composite index added 95 points, or 1% to close at about 9,274.

The Dow Jones Industrial Average .DJI fell 37.87 points, or 0.13%, at the open to 28,901.80.

Aerospace companies Hexcel Corp and Woodward Inc rose 8.2% and 3.5%, respectively, after the two Boeing suppliers said they would combine in an all-stock merger valued at $6.43 billion.

Meantime, Chinese export data showed trade with the US dropped nearly 11% in 2019, even as the country's total exports expanded on stronger global demand.

Bond prices rose. The yield on the 10-year Treasury slipped to 1.81 percent from 1.84 percent late Monday. The industry is particularly sensitive to developments in trade relationships, as many companies rely on China for sales and supply chains.

Apple rose 2.14 per cent to close at a record high. General Electric rose 3.9% and Facebook added 1.8%. Health care stocks led the gainers, receiving a big boost from Perrigo, which vaulted 12.6%. Cigna fell 3.2%, UnitedHealth Group slid 3.1% and Anthem dropped 3.6%.

Trudeau suggests missile downed Ukraine jet
The statements from Britain and Canada came as video footage emerged that appeared to show the moment the airliner was hit. A video that the New York Times says it has verified appears to be consistent with this version of events.

The yield on 10-year Treasuries rose one basis point to 1.85%.Australian 10-year yields rose about four basis points to 1.25%. The pickup in yields helped lift financial stocks, as it makes it possible for banks to charge higher interest rates on mortgages and other consumer loans. United Airlines grew by 1.1% and American Airlines by 0.5%.

Electric auto maker Tesla jumped 9.8%, closing above $500 for the first time.

Oanda's Craig Erlam said: "Details of the trade deal are starting to emerge but there's still a lot we don't know".

"We're seeing a mixed bag of results from big banks to start earnings season with JPM and Citi coming in very strong but Wells missing expectations", wrote Mike Loewengart, vice president of investment strategy at E-Trade.

According to FactSet, a financial research firm, S&P 500 companies are on track to report a 2% earnings decline year-over-year. That was the most important thing for the market.

UnitedHealth Group Inc, the largest US health insurer, rose 2.8% as it affirmed its full-year outlook for 2020 adjusted earnings. It rose 15 cents to $ 58.23 a barrel on Tuesday. Brent crude oil, the global standard, added 8 cents to $64.28 a barrel. Wholesale gasoline was unchanged at $1.66 per gallon.

Gold, considered a safe haven during political and economic turmoil, rose last week to an nearly seven-year peak of $1,610.90 an ounce after a US drone strike killed a top Iranian commander in Baghdad and Iran launched missiles against USA troops in Iraq in retaliation.

The euro fell 0.04% at $1.1128 while the pound sterling edged up 0.25% at $1.3022.

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