NEW YORK: Wall Street stocks rallied on Tuesday following a batch of mostly good earnings and as reports that face-to-face US-China talks will be held next week lifted hopes of a trade agreement.
The Dow Jones Industrial Average finished at 27,349.19, up 177.29 points and only about 10 points away from a fresh record. The latest barrage of earnings released on Tuesday bolstered confidence that"the economy is not as weak as some had estimated," said Karl Haeling of LBBW."We have enough of a sample size of corporate reports."Analysts say expectations the Federal Reserve will cut interest rates also are boosting stocks, while worries about a"hard" Brexit under newly-picked Prime Minister Boris Johnson was seen as a possible headwind.
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