Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average, S&P 500 and the Nasdaq finished at all-time closing highs Tuesday amid renewed signs of progress in U.S.-China trade talks and an upbeat assessment on the domestic economy from Fed Chairman Jerome Powell.
  • Best Buy (BBY) - Get Report climbed after the technology retailer posted better-than-expected third-quarter earnings. Best Buy is Real Money's Stock of the Day.
  • Xerox (XRX) - Get Report said that it will take its $33 billion takeover proposal for larger rival HP (HPQ) - Get Report directly to shareholders unless the two sides are able to agree on access to private financial information.

Wall Street Overview

The three major indexes closed at record highs Tuesday, beating their own day-old records, boosted by renewed signals of progress in U.S.-China trade talks and an upbeat assessment on the domestic economy from Federal Reserve Chairman Jerome Powell.

The The Dow Jones Industrial Average finished up 55.21 points, or 0.20%, to 28,121.68, the S&P 500 was up 0.22% to 3,140.52, and the Nasdaq advanced 0.18% to 8,647.93.

The three indexes also scored all-time intraday record highs early in Tuesday's session.

Walt Disney (DIS) - Get Report opened at a record high and led the Dow's advance after a report found that close to a million new subscribers a day are signing up for its newly launched digital streaming service, Disney+, less than two weeks after its initial rollout. Shares ended up $1.90, or 1.3%, at $151.59.

Procter & Gamble (PG) - Get Report and Merck (MRK) - Get Report   also gained.

China's Commerce Ministry said in a statement Tuesday it had made progress with its U.S. counterparts, including U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin, during a phone call late Monday and agreed to work toward implementation of the so-called phase one agreement.

TheStreet's Jim Cramer said that the late night phone call made by Lighthizer and Mnuchin made him think that "there's movement."

The positive tone from Beijing followed a weekend move by China to overhaul its legislation on intellectual property protection, which many analysts have said suggests a willingness to reach an acceptable agreement with the United States ahead of planned tariffs on $160 billion in China-made goods, which are set to kick in on Dec. 15.

Powell, meanwhile, presented an optimistic view on the strength of the U.S. economy during a speech to the Greater Providence Chamber of Commerce in Rhode Island.

Focusing on the labor market, Powell said Monday it was possible for wages to continue to rise, even with unemployment running at five-decade lows. He also signaled that continued low inflation means the central bank won't be hiking interest rates anytime soon.

Xerox (XRX) - Get Report fell 1.2% to $ 38.30 after the company said it will take its $33 billion takeover proposal for larger rival HP (HPQ) - Get Report directly to shareholders unless the two sides are able to agree on access to private financial information. HPQ was off slightly to $20.05.

Best Buy (BBY) - Get Report , the S&P 500's biggest gainer, climbed 9.9% to $81.57 after the technology retailer posted better-than-expected third quarter earnings, while boosting its full-year profit guidance, and said it will launch a next-day delivery service for the coming holiday shopping season. Best Buy is Real Money's Stock of the Day.

Dollar Tree (DLTR) - Get Report , the poorest performer on the S&P 500 and the Nasdaq, plummeted 15.2% to $95.26 after the discount chain posted softer-than-expected third quarter earnings, but held to its full-year sales forecasts even as it cautioned that tariff increases and store closure costs would trim its bottom line.

Dick's Sporting Goods (DKS) - Get Report soared 18.7% to $46.81 after the retailer posted third-quarter earnings and revenue that blew past analysts' forecasts and also raised its guidance for the fourth quarter amid stronger foot traffic and sales of its bigger-ticket items.

Alibaba (BABA) - Get Report rose 2.3% to $194.82 after the Chinese internet retailer had its first trading session on the Hong Kong Stock Exchange.

Palo Alto Networks (PANW) - Get Report fell 12% to $220.36 after the security and cloud software company guided investors toward a softer end to the year that offset solid first quarter results.

Abercrombie & Fitch (ANF) - Get Report dropped 2.6% to $15.91 after the apparel retailer came up just short of Wall Street estimates on some key metrics in the third quarter.

Consumer confidence fell for the fourth straight month, the Conference Board said, slipping to 125.5 in November from a revised 126.1 in October. Economists were looking for a reading of 128.2.

"Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers' assessment of current business and employment conditions," said Lynn Franco, senior director of economic indicators at The Conference Board.

Franco added that "the decline in the Present Situation Index suggests that economic growth in the final quarter of 2019 will remain weak."

"However, consumers' short-term expectations improved modestly, and growth in early 2020 is likely to remain at around 2 percent," she said. "Overall, confidence levels are still high and should support solid spending during this holiday season."

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