By Caitlin Ostroff and Karen Langley 

U.S. stocks rose Tuesday as investors looked ahead to a speech by President Trump for new clues about U.S. trade policy.

Mr. Trump's remarks at the Economic Club of New York will be scrutinized for any signs of progress in trade negotiations with China. An announcement by Beijing last week that the two countries had agreed to roll back tariffs lifted financial markets, but Mr. Trump later disputed that such an agreement had been made.

"There's cautious optimism that we will get some fairly positive outlooks from President Trump," said Michael Hewson, chief market analyst at CMC Markets. He said markets are hopeful that no tariffs will be placed against European auto makers and are watching to see whether Mr. Trump goes forward with another round of tariffs on Chinese goods, set to go into effect Dec. 15.

The S&P 500 added 0.4%, while the Nasdaq Composite rose 0.5%. The Dow Jones Industrial Average inched up 0.3%.

The gains were broad-based, with 10 of 11 S&P 500 sectors rising, and real estate declining only slightly.

Major U.S. stock indexes are at or near all-time highs, as investors have grown more confident about the economy. The Dow Jones Industrial Average notched another record close Monday, while the S&P 500 and Nasdaq Composite clinched new closing highs Friday.

Investors have found reason for optimism in another Federal Reserve rate cut, a corporate earnings season that has been better than expected, and data on jobs and consumer spending that suggest strength in the U.S. economy.

Within U.S. stocks, cyclical areas that are closely tied to the economy, such as the financial and industrial sectors, have been doing particularly well.

"That tells me investors are not worried about recession in 2020," said Nancy Tengler, chief investment officer of Tengler Wealth Management.

Corporate news drove moves in individual stocks. Shares of Advance Auto Parts dropped 7.6% after the company reported lower-than-expected third-quarter same-store sales. Rockwell Automation climbed 13%, on pace for its largest percent increase in 10 years, after the Milwaukee-based industrial technology company beat forecasts for its adjusted profit.

With more than 90% of S&P 500 companies having reported third-quarter earnings, about three-quarters have beaten expectations, slightly above the five-year average of 72%, according to FactSet. Earnings from companies that have reported dropped 2.3% from a year earlier.

Shares of Portland-based brewing company Craft Brew Alliance more than doubled after Anheuser-Busch offered to buy the remaining shares of the company Monday.

The yield on the 10-year U.S. Treasury was 1.942%, up from 1.930% Friday. Bond markets were closed Monday. Yields rise when prices fall.

In Europe, the Stoxx Europe 600 rose 0.5% and the U.K.'s FTSE 100 gained 0.8%. Stocks traded up in Asia, where the Hang Seng rose 0.5% amid ongoing pro-democracy demonstrations. The Shanghai Composite gained 0.2% and Japan's Nikkei 225 climbed 0.8%.

Write to Caitlin Ostroff at and Karen Langley at


(END) Dow Jones Newswires

November 12, 2019 11:35 ET (16:35 GMT)

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