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Traders works on the floor of the New York Stock Exchange (NYSE) as the Federal Reserve Board Mayor Jerome Powell holds a press conference on December 19, 2018 in New York City.
Stocks have been in a tear recently partly due to Fed's perceived pause on interest rate increases. Dow and Nasdaq are running an eight-week winning knit, while the S & P 500 is up seven of the last eight weeks. Since the Fed meeting in January, the major indices are over 4 percent.
Investors are also looking at developments in trade negotiations in the US and China as officials launched a new round of negotiations Tuesday. A follow-up session of high-level calls is expected later this week, as both sides appear to resolve the long-term trade war before an early March deadline.
President Donald Trump has suggested that he can extend the deadline for an appointment, told reporters in the Oval Office on Tuesday, March 1, was not a "magical date". An extension of today's deadline will prevent an immediate increase of $ 200 billion from Chinese imports to 25 percent from 10 percent.
"We expect a certain conditional agreement to be reached, but the uncertainty about the bilateral negotiations is likely to continue, especially since the core of the discussion is structural issues such as the protection of intellectual property rights," said Vincent Mortier, CEO of Amundi Asset Management. A note
CVS Health shares fell more than 8 percent after issuing a weaker than expected earnings forecast for 2019. The company's guidance comes after completing a $ 70 billion deal to acquire the health insurance company Aetna in November.
-CNBCs co Meredith contributed to this report.