Briefing

Here’s what happened to the stock market on Tuesday

Here’s what happened to the stock market on Tuesday


A trader works before the closing bell at the New York Stock Exchange (NYSE) on September 20, 2019 in New York City.

Johannes Eisele | AFP | Getty Images

Dow Jones Industrial Average rises 30 points

The gained 30.52 points, or 0.11%, to 27,492.63 on Tuesday. The  fell 0.12% to 3,074.67. The rose 0.02% to 8,434.68 points. With three straight days of gains, the Dow and Nasdaq refreshed their records Tuesday.

Signs of trade progress?

As the U.S. and China ponder on a new location for the signing of the so-called “phase one” trade deal, China is pushing for more rollbacks in tariffs. The country insists on a removal of duties on about $125 billion worth of Chinese goods imposed in September as part of the limited agreement, reports Monday evening said. While encouraging, the news wasn’t enough to turn investors more bullish on a resolution between the world’s two largest countries.

Better-than-expected economic data

Helping lift the market a bit Tuesday was strong U.S. service sector data. The ISM non-manufacturing index came in at 54.7 for October, topping Dow Jones analysts’ estimate of 53.5. The reading provides a sign of relief after the gauge sank to a three-year low in September. The service sector, which accounts for more than two-thirds of U.S. economic activity, has been expanding for 117 straight months, according to the ISM.

Boeing jumps, Shake Shack and Uber tank

Shares of Boeing jumped 2.05% after the company said CEO Dennis Muilenburgwould forgo all bonusesthis year in the wake of the 737 Max crashes. Shares ofUbertanked 9.85% after the ride-hailing company reportedquarterly loss that topped $1 billion.Shake Shackstock nosedived a whopping 20.64%on disappointing same-store sales growth.

What happens next?

Investors will get earnings reports from high-profile companies Wednesday including Roku and CVS. Wall Street will also digest a preliminary read on U.S. worker productivity in the third-quarter. Read morehere.

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