US Market climbs on sign of trade progress

The US stock market finished session higher on Monday, 21 October 2019, on optimism over US-China trade talks and corporate earnings reports. At closing bell, the Dow Jones Industrial Average advanced 57.44 points, or 0.21%, to 26,827.64, the S&P 500 added 20.52 points, or 0.69%, to 3,006.72, and the Nasdaq Composite gained 73.44 points, or 0.91%, to 8,162.99.

Investor risk sentiment underpinned on further signs of progress toward a resolution of the trade dispute between the United States and China after U.S. President Donald Trump continued to strike optimistic tones on Monday, while White House adviser Larry Kudlow said U.S. tariffs on Chinese goods scheduled for December could be withdrawn if talks go well.

Trade-sensitive technology stocks gained 1%, while the China-exposed semiconductor stocks helped the Philadelphia chip index climb 1.8%.

Investors are now gearing up for earnings reports this week from high-profile companies including Boeing, Microsoft Corp , Procter & Gamble Co., United Parcel Service Inc and Caterpillar Inc.

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