Stocks rally as traders prepare for a slew of tech earnings

Thomson Reuters

FILE PHOTO: Traders react at the closing bell on the floor of the NYSE in New York

Stocks were mostly higher Tuesday with the Nasdaq briefly hitting a record high ahead of a slew of tech earnings out this week. The dollar was largely unchanged against a basket of peers, and the Treasury yield inched lower.

Here's the scoreboard:

Dow Jones industrial average: 25,240.18 +195.89 (+0.78%)

S&P 500: 2,815.30 +8.32 (+0.30%)

1. The Trump administration announced a $12 billion plan to aid farmers hit by its trade crackdown. The program, which will be funded by the Department of Agriculture's broad authority and two components of the farm bill, was rolled out amid rising frustrations among American farmers and ranchers.
2. The Office of the US Trade Representative kicked off public hearings on pending tariffs against China. The 25% tariffs, which would target $16 billion worth of goods, would be in addition to US duties on $34 billion worth of Chinese products enacted earlier this month.
3. The Chinese yuan tumbled to a 13-month low. The slide came after Beijing rolled out tax cuts and increased infrastructure spending, along with plans to inject $74 billion into the banking system through its medium-term lending facility.
4. Earnings season rolls on. Harley Davidson topped expectations for a sixth straight quarter, but the company reiterated warnings that Trump's tariffs could squeeze its margins. Alphabet hit a record high after crushing analyst expectations after the bell on Monday - here's a look at Wall Street is saying about it.

And a look at the upcoming economic calendar:

• President Donald Trump meets with European Commission President Jean-Claude Juncker.
• Facebook, Amazon, and Twitter report earnings in the coming days.
• US new home sales numbers are out.
• Eurozone money supply data cross the wire.

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