Wall Street nears record high on trade, earnings optimism

Wall Street boosted by trade optimism

"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%.

Authorities of China's Wuhan Admit New Coronavirus Can Transmit Human-to-Human
The World Health Organization and Chinese authorities are taking steps to ensure the disease does not spread further. There have since been no new cases or deaths, Wuhan health authorities said on Tuesday (local time).

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.

Related News:



Most liked

‘Jeopardy!’ Producers Explain What Happened With Bethlehem-Palestine Flap
The clue was "Built in the 300s A.D., the Church of the Nativity ". " Jeopardy! " has not responded to CNN's request for comment. Needle's lost points from the wrong answer were added back to her total during the subsequent commercial break.

Former Penn State player sues James Franklin and school over alleged hazing
Humphries claims he was ordered to perform football drills the coaches knew he would fail as retribution for his complaining. Humphries sat out the 2019 season and will play for the PAC-12 school as a redshirt sophomore in 2020.

Harmanpreet Kaur To Captain India In Women's T20 World Cup
Harmanpreet Kaur will lead the team in the premier tournament while Smriti Mandhana will be her deputy. Gayakwad had a good run in the T20 Challenger trophy where she put in a shift for India C.

Mourinho close to making first signing with Tottenham
It is understood Tottenham will have an option to buy Fernandes when his loan deal with the Premier League club expires in 2021. But it seems Fernandes, who has featured 59 times for Benfica's senior side, has chosen to move to Tottenham .

Novak Djokovic leads Serbia to title at first-ever ATP Cup
The inaugural ATP Cup debuted a lot in Australia, but the team competition continued only six weeks after the renewed Davis Cup. The technology allows the umpires to be certain of some aspects like a foot fault, foul shot among other things.

Netflix Scores 24 Oscar Nominations for The Irishman, Marriage Story & More
Nominations have been announced in eight categories so far, with the remaining 16 shortlists to follow shortly. Female filmmakers were entirely shut out of the best director race.

Iran says some people arrested for their role in Ukrainian plane crash
The authorities' handling of the air disaster and has also angered people in Iran. Demonstrators turned out again on January 12.

Issa Rae Calls Out Oscars For Snubbing Women In Best Director Category
I think everybody's angry and quite rightly so. "I do not know what the answer is, other than we are talking about it", Pugh said. You could compile a lengthy list of them, but the most glaring one is that no women are nominated in the Best Director category.

Taoiseach meets Boris Johnson as power sharing resumes at Stormont
Recent industrial action caused the cancellation of thousands of outpatient and elective appointments across Northern Ireland . Mrs Foster said the meetings were "constructive" and ruled out imposing water charges as a revenue-raising measure.

LSU Trounces Clemson 42-25, Taking Its First National Championship Since 2007
For the night, Burrow completed 31 passes on 49 attempts for 463 yards, five touchdowns and no interceptions. LSU fell behind 17-7 but rallied to take a 28-17 halftime lead.

Canada's jobless rate down to 5.6 pct in December
Revisions subtracted 14,000 jobs from the prior two months, bringing the three-month average to 184,000, the smallest since July. Peter Tchir, head of macro strategy for Academy Securities, called this "the one impressive number" in Friday's report.

How To Watch The Oscar Nominations Online
With her best actress nod for Little Women , Saiorse Ronan has been nominated for four Oscars despite being just 25. Ever Academy Award nomination list has its set of snubs , and Little Women director Greta Gerwig was one.

The defining moments of LSU's college football national championship win
There were plenty of orange-wearing Clemson fans on the streets, hoping their team wins a second straight national championship. They entered the College Football Playoff ranked third, behind fellow undefeated teams in No. 1 LSU and No. 2 Ohio State .

Selena Gomez reacts to Hailey Bieber's disgusting reactions in the restaurant
More surprisingly, though, was the white toaster she was seen carrying around with her as she left the celebrity hot-spot. We're soaking up this look while it lasts because with Selena , we never know when she'll switch it up again.

Russians hack energy company that played major role in Trump Ukraine scandal
Breaching Burisma could yield communications from, to, or about Hunter Biden , who served as a director between 2014 and 2019. There, unwitting victims enter their usernames and passwords, which the hackers then harvest.