U.S. stocks closed solidly higher Tuesday, and the Dow narrowly missed a closing record, as investors appeared to react positively to reports that the U.S. and China would hold face-to-face talks for the first time since May.
The Dow Jones Industrial Average closed 177 points, or 0.7%, higher at 27,350 (on a preliminary basis), just off its July 15 closing record at 27,359.16. The S&P 500 index ended 0.7% higher at 3,005, marking its best finish since July 3, according to FactSet data. Meanwhile, the Nasdaq Composite Index wrapped up the session with a 0.6% gain to reach 8,251.
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to China for meetings with China's Vice Premier Liu He, following their collapse in May, the Wall Street Journal reported. Better-than-expected earnings from Dow components, Coca-Cola and United Technologies reported before the market opened also helped stocks rise, marking a second straight day of gains.
Source : MarketWatch