Stocks closed on record highs Tuesday helped by a batch of positive retail earnings, a new record for Disney and more positive developments on U.S. – China trade talks. Tuesday’s record close was the 100th since Trump took office. Investors scooped up more Disney shares, lifting the Mouse House to a new record after the research firm Apptopia said the Disney+ app has been downloaded 15.5 million times and is averaging 25.6 million sessions per day over the past week. Uber and Lyft shares gained despite the City of Chicago announcing a congestion tax on ride-hailing services. Uber was hit hard Monday after London pulled its business license. On the earnings front, Best Buy reported better-than-expected third-quarter results as store sales rose 2 percent from a year ago, driven by strength in appliances, headphones, tablets, services and computing. The electronics retailer also raised its full-year outlook for earnings and revenue. Dick’s Sporting Goods soared after reporting a top and bottom-line beat and raising its outlook for the rest of the year. The sporting goods retailer said e-commerce sales climbed 13 percent year-over-year. Meanwhile, shares of Dollar Tree tanked after the discount retailer said it expects fourth-quarter earnings to take a hit due to tariffs. And more positive trade developments also helped drive the gains after President Trump told reporters the U.S. and China are “in the final throes” of reaching a deal. The comments came after China said earlier in the day that its top trade envoy and other senior officials spoke by phone with U.S. negotiators. China’s commerce ministry said Vice Premier Liu He and other senior officials spoke with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
Another stock market record high in this Trump economy!! Excellent!! For more, click on the text above. 🙂