Dow climbs to new record
The Dow climbed to a fresh record on Tuesday amid optimism in the U.S. economy.
The Dow Jones Industrial Average rallied 122.73 points, or 0.46 percent, to 26,773.94. The broader S&P 500 inched 1.16 points lower to 2,923.43. The Nasdaq Composite fell 37.76 points, or 0.47 percent, to 7,999.55.
Stocks continued their rally from Monday after a new trade agreement involving the U.S., Canada and Mexico was praised by Trump officials and economists.
|I:DJI||DOW JONES AVERAGES||32244.58||+382.60||+1.20%|
|I:COMP||NASDAQ COMPOSITE INDEX||11675.537599||+45.02||+0.39%|
In corporate news, GE shares continued to rise following the company’s sudden report on Monday that it replaced John Flannery as CEO with H. Lawrence Culp Jr. Investors including those at RBC say the worst could be over for the embattled industrial conglomerate.
|GE||GENERAL ELECTRIC CO.||89.92||-0.35||-0.39%|
U.S. sales figures from major automakers were mixed on Tuesday. Shares of GM and Ford were lower after the automakers said hurricanes both this year and in 2017 impacted their year-over-year sales results.
In commodities, oil hovered near a multi-year high. U.S. crude fell slightly to $75.23 per barrel.