Wall Street extended its rally for the third straight day. The big indexes rose roughly one percent. Three big tech names, Facebook, Amazon and Apple, led the S&P's advance. Investors boughton bets that the U.S. and China would strike a deal to end their trade war.
Argus Research chief investment strategist, Peter Canelo:
SOUNDBITE: ARGUS RESEARCH CHIEF INVESTMENT STRATEGIST, PETER CANELO, (ENGLISH) SAYING:
"It all starts with China and trade and tariffs. We already postponed the tariffs. And they're talking so that's good news, and I think the market recognizes that."
Amazon again gained ground one day after the online retailer topped Microsoft to become the world's most valuable company.
Boeing led the Dow. The world's largest plane manufacturer delivered a record 806 aircraft in 2018 but missed its full year target.
PG&E tumbled again after S&P Global Ratings cut the utility's credit rating to junk status. Shares also sank Monday after Reuters reported PG&E was exploring filing for bankruptcy protection.
European shares closed at a three-week high on hopes of a trade deal between the U.S. and China.