Mon, 26 Oct 2020

NEW YORK, New York - The Dow Jones and Nasdaq gained ground on Tuesday while the Standards and Poor's 500 finished the day flat.

Again driving markets was growing optimism about a U.S.-China trade deal. Nonetheless stocks are now trading at, or near, their all-time highs.

"It's a classic fear of either missing out but you maybe want to take some profits," Thomas Martin, senior portfolio manager at Globalt Investments in Atlanta, Georgia told the Reuters Thomson news agency Tuesday.

"You made some money and you have to be careful here, but you have to be careful both ways, because there really has been a shift in the growth and value thing just this month, in favor of large cap value."

At the close of trading Tuesday, the Dow Jones Industrial Average was up 76.89 points, or 0.28%, at 27,539.

The Standard and Poor's 500 was virtually unchanged, down 0.29 of a point, or 0.01%, at 3,077.98.

The Nasdaq Composite jumped 11.89 points, or 0.14%, to 8,445.09.

The U.S. dollar flexed its muscles further on Tuesday after commencing a rebound a dfay earlier. The euro buckled to 1.1070 by the New York close on Tuesday. GThe British pound remained steady at 1.2883.

The Japanese yen dived to 109.20, while the Swiss franc eased to 0.9930.

The Canadian dollar fell to 1.3158. The Australian dollar slipped to 0.6893. The New Zealand dollar wa sharply weaker at 0.6384.

On overseas mafrkets the German Dax rose 0.09%, the Paris-based CAC 40 was up 0.39%, while the FTSE 100 in London climbed 0.25%.

On Asian markets the big mover was the Nikkei 225 in Japan which advanced 401.22 points or 1.76% to 23,259.99.

The Australian All Ordinaries added 11.80 points or 0.17% to 6,811.60.

In China the Shanghai Composite climbed 16.07 points or 0.54% to 2,991.57.

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