Finance
Stocks rally as traders prepare for a slew of tech earnings
Stocks were mostly higher Tuesday with the Nasdaq briefly hitting
a record high ahead of a slew of tech earnings out this week. The
dollar
was largely unchanged against a basket of peers, and the Treasury
yield inched lower.
Here’s the scoreboard:
Dow Jones industrial
average:
25,240.18 +195.89
(+0.78%)
S&P
500:
2,815.30 +8.32 (+0.30%)
- The Trump administration announced a
$12 billion plan to aid farmers hit by its trade
crackdown. The program, which will be funded by
the Department of Agriculture’s broad authority and two
components of the farm bill, was rolled out amid rising
frustrations among American farmers and ranchers. - The Office of the US Trade Representative
kicked off public hearings on pending tariffs against
China. The 25% tariffs, which would target $16
billion worth of goods, would be in addition to US duties on
$34 billion worth of Chinese products enacted earlier this
month. -
The Chinese yuan
tumbled to a 13-month low. The slide came
after Beijing rolled out tax cuts and increased infrastructure
spending, along with plans to inject $74 billion into the
banking system through its medium-term lending
facility. - Earnings season rolls on. Harley
Davidson topped expectations
for a sixth straight quarter, but the company reiterated
warnings that
Trump’s tariffs could squeeze its margins. Alphabet
hit a record high after crushing analyst expectations after the
bell on Monday —
here’s a look at Wall Street is saying about it.
And a look at the upcoming economic calendar:
- President Donald Trump meets with European Commission
President Jean-Claude Juncker. - Facebook, Amazon, and Twitter report earnings in the coming
days. - US new home sales numbers are out.
- Eurozone money supply data cross the wire.
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