Dow Jones Industrial Average rises 30 points
The gained 30.52 points, or 0.11%, to 27,492.63 on Tuesday. The fell 0.12% to 3,074.67. The rose 0.02% to 8,434.68 points. With three straight days of gains, the Dow and Nasdaq refreshed their records Tuesday.
Signs of trade progress?
As the U.S. and China ponder on a new location for the signing of the so-called "phase one" trade deal, China is pushing for more rollbacks in tariffs. The country insists on a removal of duties on about $125 billion worth of Chinese goods imposed in September as part of the limited agreement, reports Monday evening said. While encouraging, the news wasn't enough to turn investors more bullish on a resolution between the world's two largest countries.
Better-than-expected economic data
Helping lift the market a bit Tuesday was strong U.S. service sector data. The ISM non-manufacturing index came in at 54.7 for October, topping Dow Jones analysts' estimate of 53.5. The reading provides a sign of relief after the gauge sank to a three-year low in September. The service sector, which accounts for more than two-thirds of U.S. economic activity, has been expanding for 117 straight months, according to the ISM.
Boeing jumps, Shake Shack and Uber tank
Shares of Boeing jumped 2.05% after the company said CEO Dennis Muilenburg would forgo all bonuses this year in the wake of the 737 Max crashes. Shares of Uber tanked 9.85% after the ride-hailing company reported quarterly loss that topped $1 billion. Shake Shack stock nosedived a whopping 20.64% on disappointing same-store sales growth.
What happens next?
Investors will get earnings reports from high-profile companies Wednesday including Roku and CVS. Wall Street will also digest a preliminary read on U.S. worker productivity in the third-quarter. Read more here.