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The S&P 500 index climbed to a three-week high on Tuesday, while Apple, Amazon, Facebook and industrial stocks climbed as investors bet that the United States and China will reach an agreement to end the trade war.
Strong U.S. employment data and pigeon comments by Federal Reserve Chairman Powell on interest rates have boosted the stock market for three days starting Friday, boosting the S&P 500 index. SPX, which has risen by more than 9% since its 20-month low around Christmas.
The S& P 500 has risen in seven of the past nine trading days.
A member of the U.S. delegation said that the trade negotiations between the United States and China in Beijing will enter the third day and exceed the original schedule. At present, the world's two largest economies are seeking to resolve fierce trade disputes. So far, officials in both countries have made optimistic remarks, and US President Trump said the negotiations are progressing smoothly.
"You see some negotiations going on and the market is starting to think that maybe we're starting to see a framework coming into being," said Anik Sen, global head of equities at PineBridge Investments.
The S&P industrial index, which is sensitive to the trade situation, rose 1.41%. Boeing (BA.N) rose 3.79%, contributing the most to the Dow's rise. The company said it delivered a record number of 806 aircraft in 2018.
Apple (AAPL.O) rose 1.91%, erasing some of the decline recorded last week when it warned that demand for the iPhone was lower than expected. However, the growth of technology stocks is limited by the decline of chip stocks. Earlier, Samsung Electronics (005930.KS) initially estimated a 29% decline in quarterly operating profit, which was attributed to weak chip demand.


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