The S&P 500 and Nasdaq indices in the U.S. stock market approached historic highs Tuesday, boosted by optimistic quarterly results from Coca-Cola and United Technologies and optimism that the United States will resolve trade conflicts with China.
After Bloomberg reported that U.S. Trade Representative Letterheiser would travel to Shanghai next week for face-to-face trade talks with Chinese officials, the stock market expanded its gains at the end of the day.
White House economic adviser Kudrow told reporters Tuesday that face-to-face talks between the two sides on a settlement of the U.S. -China trade agreement are a good sign.
According to data from Lufford IBES, U.S. corporate earnings season started strongly, with 104 companies in the S& P 500 index reporting second-quarter results, of which nearly 80% exceeded expectations.
Shares of Coca-Cola (KO.N) surged 6.1 percent to a record high after the company reported quarterly earnings that exceeded expectations and raised its annual organic revenue forecast.
The Dow Component Unit Technology (UTX.N) shares rose 1.5% after raising its full-year profit and revenue expectations.
U.S. President Trump and congressional leaders agreed Monday to extend the debt ceiling and federal spending cap for two years, which would avoid a possible default by the U.S. government later this year. However, this will increase the rising budget deficit.
Hot Model No.: