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- Stocks increase after Dow rally
- Gross prolong gains on supply worries
- Pound rises after cabinet resignation
U.S. Shares rose on Tuesday, putting the leading indexes on the right track for their seventh earnings session over the last eight trading days, as investors anticipate a new corporate earnings season.
The Dow Jones Industrial Average rose 95 points or 0.4% to 24871, while the S & P 500 added 0.2% and Nasdaq Composite rose less than 0.1%. The blue chip index had its best day in a month on Monday, and all three indexes climbed over the past few sessions, despite uncertainty over trade threats with China.
Many investors are considering the second quarter earnings season, which begins unofficially on Friday when three of the largest US banks publish their results. According to FactSet, corporate profits for the S & P 500 are expected to grow 20% in the second quarter compared to the same period of the previous year.
Shares of the S & P 500's energy companies led the broader index, up 1.4% as the price of US crude oil soared 1% to $ 74.61 per barrel. The only sectors in the red were real estate and utilities, which are considered bonds because of their relatively high dividends.
Investors this week have so far ignored trade tensions between the United States and China after the first round of tariffs came into effect on Friday. According to Chris Teschmacher, multi-asset portfolio manager at Legal & General Investment Management, the lack of significant commercial news over the weekend has made investors more optimistic, at least in the short term.
"If there is no increase in the trade war, then the current level of tariffs is quite minimum" in relation to the economy, said Mr. Teschmacher
While trade disputes are not necessarily deadly for the global economy, the tightening of monetary policy The Federal Reserve and political uncertainty in Europe exacerbate a risky situation, said Ronald Temple , head of US equities and co-head of multi-asset investment at Lazard Asset Management.
"You put enough of these factors together and I think you" Mr. Temple
In Europe, the Stoxx Europe 600 has recently increased by 0.5%. Shanghai's Chinese Composite Index rose 0.4%, while Japan's Nikkei rose 0.7% and South Korea's Kospi gained 0.4%.
-Allison Prang contributed to this article.
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