Dow Rises After Japan Trade Deal; Big Tech Earnings; Tesla, Alphabet, Texas Instruments and More Movers

Featured, USA1 month ago11 Views

The Dow Jones Industrial Average pulled near its first record close since Dec. 4 after positive updates on trade pushed stocks higher ahead of key earnings reports.

The Dow rose 508 points, or 1.1%, to pull within a handful of points from its Dec. 4 record close. The S&P 500 rose 0.8%. The Nasdaq Composite gained 0.6%. Both the Nasdaq and S&P marked closing highs.

The yield on the 2-year Treasury note rose to 3.88%. The 10-year yield rose to 4.39%.

After President Donald Trump announced Tuesday deals with Japan, Indonesia, and the Philippines, traders were hopeful that more pacts could lower the effective tariff rate prior to an Aug. 1 deadline.

But it wasn’t all good news: Texas Instruments shares fell sharply and dragged on the semiconductor sector after commentary from management cast doubt on whether the recovery in industrial and autos would be as strong as Wall Street hoped.

Utilities was the biggest laggard among S&P 500 sectors, followed by consumer staples.

Traders were shedding assets subject to lower volatility in favor of riskier bets. Growth and value stocks actually moved higher in step.

Now the focus for markets will turn to a gauntlet of key earnings reports starting with Alphabet and Tesla in the minutes ahead.

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