Stocks rose Tuesday on news that face-to-face talks between U.S. and Chinese trade negotiators would begin next week. A batch of stronger-than-expected earnings also lifted investor sentiment.
The Dow Jones Industrials charged ahead 177.27 by the closing bell o 27,349.19,
The S&P 500 moved ahead 20.44 points to 3,005.47,
The NASDAQ Composite jumped 47.27 points to 8,251.40
Shares of Caterpillar and Deere hit their session highs on the report – Caterpillar gaining 2.1% -- Deere closing up 1.9%. The major indexes had notched slight gains earlier in the day as investors cheered strong earnings from companies like Coca-Cola and United Technologies.
Coca-Cola shares jumped more than 6% after the company posted earnings and revenue that topped analyst expectations. Coca-Cola pointed to a 4% rise in volume and transactions during the previous quarter in Coke’s namesake brand. Volume from its Zero Sugar line also grew by double digits.
United Technologies, another Dow component, reported better-than-expected quarterly results and its stock gained 1.5%. CEO Gregory Hayes pointed to "outperformance" from its Collins Aerospace division as a driver for the strong quarter. The company also raised its full-year outlook for earnings and organic sales growth.
Biogen also reported better-than-expected earnings, sending its stock up 4.9%.
Visa, Chipotle and Snap are among those reporting after the bell.
More than 18% of S&P 500 companies have posted quarterly numbers this earnings season. Of those companies more than 78% have reported better-than-expected profits. Those companies have also seen their earnings grow by an aggregate of 3.6%.
Prices for the benchmark 10-year U.S. Treasury lost ground, raising yields to 2.07% from Monday’s 2.05%. Treasury prices and yields move in opposite directions.
Oil prices tacked on 71 cents at $56.93 U.S. a barrel.
Gold prices descended $9.60 to $1,417.30 U.S. an ounce.
