US stocks trade higher amid trade optimism

IANS Wednesday, 03 October 2018 02:00:13 AM

New York : US stocks traded on an upbeat note on Tuesday as investor sentiment was lifted by the news that Canada joined the US and Mexico in a new trade deal.

The Dow Jones Industrial Average rose 132.79 points, or 0.50 per cent, to 26,784.00. The S&P 500 was up 6.09 points, or 0.21 per cent, to 2,930.68, Xinhua news agency reported.

The Nasdaq Composite Index climbed 14.37 points, or 0.18 per cent, to 8,051.67.

All three major indices reversed early losses. The Dow's gains were led by Intel stock.

Shares of the company jumped more than 5 per cent around midday. Trade-sensitive stocks Caterpillar and Boeing advanced 1.41 per cent and 1.09 percent, respectively.

Apple shares also gained more than 1 per cent.

Eight of the 11 primary S&P 500 sectors traded higher, with utilities up 1.38 per cent, leading the winners. Tech sector rose 0.46 per cent, underpinning the tech-heavy Nasdaq.