S&P 500, Dow gain on upbeat earnings reports; Facebook pressures Nasdaq

- The S&P 500 and Dow Jones indexes rose on Tuesday, as upbeat earnings reports eased concerns over the fallout from the fragile U.S.-China trade relationship, but Facebook pressured Nasdaq after the company was hit with an expanded New York-led probe.

The benchmark S&P 500 index still hovered above 3,000 points, and was within striking distance of a record high hit in July, with Biogen Inc’s 31% surge fueling the index. The drugmaker announced a surprise plan to file for U.S. regulatory approval for its Alzheimer’s treatment. Strong corporate earnings since last week have provided some respite to equity markets, which were rattled over the past few months by geopolitical worries and a slowing global economy.

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Why the S&P 500 needs Amazon to deliver on earningsThe S&P 500 can’t achieve new highs without some big help from Amazon, says our call of the day from Peter Garnry, Saxo Bank’s head of equity strategy.
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