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Stocks finished higher Tuesday. The Dow gained 113 points to 25971, while the S&P 500 added 10 points to 2887. The Nasdaq Composite climbed 48 points to 7972.
The major averages advanced as strength in the Energy and Tech groups offset trade-related weakness. In geopolitics, Chinese officials have asked the World Trade Organization’s permission to impose additional sanctions on the United States. On the data front, a report showed that U.S. small-business owners’ optimism soared to the highest level on record in August. Another update revealed U.S. job openings climbed to 6.9 million in July. An additional release showed wholesale inventories advanced 0.6% in July, slightly below projections of a 0.7% gain.
Six of 11 S&P 500 sectors advanced as the Energy sector gained in tandem with higher oil prices. Technology shares also outperformed as Apple added 2.5% to $223.85 and Microsoft climbed 1.7% to $111.24. Insurance companies lagged as investors eyed hurricane Florence, which is anticipated to hit the Carolinas with its worst storm in 60 years. In corporate news, game software developers Activision Blizzard and Take-Two added 7.1% to $79.50 and 3.7% to $133.92 respectively after positive analyst comments.
Breadth was even on the NYSE and negative on issues by 9:7 on the Nasdaq. Composite NYSE volume was more than 3.9 billion shares.
Treasuries weakened with the yield on the 10-year note rising four basis points to 2.98%. In commodities, WTI crude surged 2.7% to $69.39/barrel. COMEX gold added 0.1% to $1195.80/ounce despite a stronger dollar.