US stocks trade higher as investors focus on economic dtata
New York: US stocks traded on an upbeat note on Tuesday as investors were digesting a slew of corporate earnings and economic data.
The Dow Jones Industrial Average jumped 153.26 points, or 0.62 per cent, to 24,929.85. The S&P 500 was up 9.34 points, or 0.34 per cent, to 2,793.51, Xinhua news agency reported.
The Nasdaq Composite Index climbed 14.23 points, or 0.18 per cent, to 7,770.43.
Shares of PepsiCo rose 3.74 per cent around mid-day after the company released better-than-expected quarterly revenue and profit.
Although concerns over trade tensions between the US and other major economies continued to weigh on the market, investors were likely to turn their attention to earnings reports as earnings season kicked off, experts said.
On the economic front, US small business optimism index fell 0.6 point from May to 107.2 in June, the National Federation of Independent Business (NFIB) reported on Tuesday.
The reading was still high by historical standards, as business owners continued to create new jobs and increase compensation, according to NFIB. The index measures the opinion of small businesses on the economic conditions in the country.