Stocks are cautiously higher when Wall Street awaits the Trump speech
U.S. stocks rose higher at the start of trading as investors reacted to reports that President Donald Trump would announce the delay in new car tariffs for Europe during an expected speech scheduled to begin at 12am in New York.
How do the most important standards perform?
Dow Jones industrial average
DJIA, + 0.16%
increased by 25 points, or 0.1%, to 27,714, the S&P 500 index
SPX, + 0.33%
advanced 6 points on 3,093, a gain of 0.2%, while the Nasdaq Composite Index
COMP, + 0.33%
added 17 points, or 0.2%, at 8,482.
On Monday, the Dow closed around 10 points, or less than 0.1%, to 27,691 , 49, and the S&P 500 index fell 6 points, or 0.2%, to 3,087.01, while the Nasdaq Composite Index fell 11 points, or 0.1%, to 8,464.27.
What is driving the market?
The markets have been heavily focused on trade negotiations between the United States and two of its key counterparts, Europe and China.
President Donald Trump is expected to make a decision within six months on whether to impose tariffs of up to 25% on European car imports. The president may also provide updates on the Beijing-Washington negotiations when he gives a speech at the New York Economic Club at noon. Eastern time.
"The White House has a call until tomorrow, and there is talk that the decision will be pushed back," wrote David Madden, market analyst at CMC Markets UK, in a daily research note, citing the decision on European car imports. "Traders are cautiously optimistic, so stocks are higher this morning."
Trade comments will be closely followed after Trump said over the weekend that discussions with China and the United States were "very good," but warned that recent reports of an agreement to roll back tariffs, as part of a preliminary trade resolution, was not accurate.
Meanwhile, Federal Reserve Deputy Mayor Richard Clarida theorized about global bond rates remaining around historically lower levels "significantly lower than the pre-crisis experience, and thus significantly closer to the effective policy rate lower than they were before the crisis," in prepared remarks on a police conference in Zurich.
Fed # 2's comments speak to challenges the Federal Open Market Committee is facing in the coming months as it weighs efforts to avert a recession, with federal fund rates of 1.50% -1.75%, after three striking cuts by political decision-makers at the same number of meetings.
Clarida's remarks come a day before Fed Chairman Jerome Powell is scheduled to speak and ask questions from lawmakers on Capitol Hill in Washington.
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Shares of Dow component Walt Disney Co.
DIS, + 0.96%
rose 0.4% Tuesday, the day of the debut of Disney +, the company's new subscription video streaming product.
Tyson Foods Inc .
TSN, + 4.86%
stock rose 3.2% on Tuesday, even after the meat manufacturer reported revenue and sales in the fourth quarter that missed projections.
Dean Foods Co. .
DF, + 2.29%
voluntarily filed for bankruptcy protection for Chapter 11 on Tuesday, with the dairy company saying it was working towards a "tidy" sale of the company. Trading in the stock was halted, but had fallen 79% so far this year.
CBS Corp .
CBS, -3.68%
shares rose 2.8% Tuesday morning after the media company reported third-quarter profits that beat Wall Street forecasts, but revenue fell below estimates.
Shares at Advance Auto Parts Inc .
AAP, -7.67%
fell 7.2% after the auto product dealer reported third-quarter results and revenue that beat expectations, but sales of the same store as the boom.
D. R. Horton Inc . & # 39; S
DHI, + 3.02%
shares fell 4.3% Tuesday after the home builder reported fiscal sales and revenue in the fourth quarter that beat the projections and provided an optimistic outlook for 2020 revenues.
Disney
DIS, + 0.96%
share grew despite some access problems experienced by users on the first day of their new video streaming service.
How do other assets trade?
Return on the 10-year US Treasury
TMUBMUSD10Y, -0.27%
fell slightly to 1.929% from 1.930% on Friday. Bond markets were closed Monday in observance of Veterans Day.
December Gold
GCZ19, -0.24%
on Comex fell $ 1.80, or 0.1%, to $ 1,455.20 per ounce, hanging around a three-month low, according to FactSet data.
West Texas Intermediate Crude Oil for December Delivery
CLZ19, + 0.88%
popped 0.7% higher to the $ 57.29 barrel on the New York Mercantile Exchange, after dropping 0.7% on Monday.
ICE U.S. dollar index
DXY, + 0.12% ,
a measure of greenback's performance against six major rivals was up 0.1% and recovered some losses from a day ago.
In Asia overnight, China CSI 300
000300, + 0.02%
achieved less than 0.1%, and Shanghai Composite
SHCOMP, + 0.17%
increased 0.2%. Hong Kong's Hang Seng Index
HSI, + 0.52%
despite recent protests, while Japan's Nikkei 225 index
NIK, + 0.81%
advanced 0.8%.
In Europe, Stoxx Europe is 600 & # 39; s
SXXP, + 0.31%
achieved 0.3%
