Stocks stage comeback amid hope for US-China trade talks

US
President Donald Trump, left, and Chinese President Xi Jinping
arrive for a meeting on the sidelines of the G-20 Summit in
Hamburg, Germany.
AP/Saul
Loeb

Stocks staged a comeback Tuesday after a three-session losing
streak amid optimism for cooling trade tensions between the US
and China and after a series of strong earnings reports.
The dollar rose,
and Treasury yields fell. 

Here’s the scoreboard:

Dow Jones industrial
average:
 25,418.10 +111.27
(+0.44%)

S&P
500:
 2,816.67 14.07
(+0.50%) 

Nasdaq
Composite: 7,671.79 +41.78
(+0.55%)

1. Facebook
   said it uncovered and deleted a group of accounts attempting to
   influence the November midterm elections through
   a coordinated disinformation campaign. The
   findings resemble those related to Russian efforts to influence
   the 2016 election, the social media giant said. 
2. Washington and Beijing may be able to avoid further
   trade escalations.
   Bloomberg reported representatives of Treasury
   Secretary Steve Mnuchin and Chinese Vice Premier Liu He are
   working toward a restart in trade talks, according to two
   people familiar with the matter.
3. Amid rising tensions between Tehran and Washington,
   Iranian President Hassan Rouhani rebuffed President Donald
   Trump’s suggestion to meet. After the two leaders
   swapped a series of threats last week, Trump told reporters
   Wednesday he would be willing to meet Rouhani anytime and
   without preconditions. But Iranian officials said that would
   not be “appropriate” at this point,
   according to the Wall Street Journal.
4. American workers saw the
   largest pay raises in nearly a decade in the year up to
   June. The employment-cost index rose 2.8% last month
   from a year earlier, the Labor Department said, the most since
   September 2008. 
5. Earnings season rolls on. Pfizer topped
   estimates and
   raised its forecast. Sony
   and Nintendo
   also beat. Apple
   reports after the bell — follow Business Insider’s live updates
   
   here.

And a look at the upcoming economic calendar:

• The Federal Reserve announces its rate decision.
• Tesla, Volkswagen and BMW report earnings.

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