Stocks rose on Tuesday, ahead of President Trump delivering the State of the Union address.
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Trump’s speech before Congress on Tuesday night comes a week later than scheduled after House Speaker Nancy Pelosi yanked the original invitation during their showdown over the government shutdown.
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On the eve of the State of the Union address, President Trump and Fed Chairman Jerome Powell dined at the White House.
The meeting covered a variety of economic topics, the Fed said in a statement, but did not delve into expectations of future monetary policy decisions.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25356.06 | +116.69 | +0.46% |
| SP500 | S&P 500 | 2733.24 | +8.37 | +0.31% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7392.0289 | +44.49 | +0.61% |
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Walt Disney will report Tuesday after the market closes.
On Monday after the closing bell, Google-parent Alphabet wrapped up FAANG earnings by posting a better-than-expected quarterly revenue and profit. However, its shares fell before the bell Monday as investors worried about its sharply higher spending, which hit margins.
Estée Lauder jumped percent after the cosmetics maker topped quarterly sales estimates, driven by higher demand for its luxury skin care brands.
Viacom said profit in its fiscal first quarter fell despite improved performance at its filmed-entertainment operations, as its flagship cable networks suffered a 6 percent decline in advertising revenue.
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In Asia on Tuesday, markets in Hong Kong and China are closed for the Lunar New Year holiday. Japan’s Nikkei ended 0.2 percent lower.
In Europe, London’s FTSE added 1.2 percent, Germany’s DAX gained 1 percent and France’s CAC was up 0.9 percent.
