The US indices were in positive territory, hitting record highs with technology stocks, led by Apple Inc (NASDAQ:AAPL) leading the way, near closing.
Corporate earnings and positive economic data were the focus for investors, as they shrugged off developments in Germany, which is still in political limbo after Chancellor Angela Merkel failed to cobble together a coalition government.
Expectations that President Donald Trump will deliver on tax cuts and other pro-business policies are also helping to boost sentiments.
The Dow Jones gained 0.67% or 155 points, to 23,585, with 27 of its 30 components all posting rises.
The Nasdaq was up 1.00%, up 64 points to 6,856.48 while the S&P 500 index rose 16 points or 0.64% to 2,598 points.
Apple gained 1.78% or US$3.03 to US$172.89.
Retailers were mixed with Signet Jewelers Ltd (NYSE:SIG) tumbling 30.04% to US$53.42 after posting weaker-than-expected earnings.
Similarly home-improvement group Lowe's Cos (NYSE:LOW) dipped 0.91% at US$81.39 after disappointing numbers as well.
Dollar Tree Inc (NYSE:DLTR) however bucked the trend, gaining 2.56% to US$99.05 after unveiling stronger-than-expected results.
Campbell Soup Co, which also released results, saw its shares dip 8.20% to US$45.74.
Intuit Inc.(NASDAQ:INTU) was down 3.95% at US$151.40 after it unveiled better-than-expected quarterly results late Monday. The guidance issued by the company however did not impress analysts.
Agilent Technologies Inc.(NYSE:A) was also headed south, easing 0.19% at US$69.85 after its profit forecast missed expectations. The maker of scientific equipment however did post late Monday better-than-anticipated quarterly earnings.
AmerisourceBergen Corp. (NYSE:ABC) saw investor interest, rising 2.58% at US$79.39 after announcing late yesterday that it is planning to buy independent wholesaler H.D. Smith for US$815mln.
MID SESSION
All the US stockmarket indices were up in mid-session, with the NASDAQ hitting a record high, led by technology shares ahead of the Thanksgiving holiday.
The Dow Jones clocked 0.78% up or 155 points to 23,585 points, with 27 of its 30 components all in positive territory.
Nasdaq was up 1.01%, gaining 64 points at 6,854 points, setting an intraday record high.
The S&P 500 index gained 0.70%, up 16 points to 2,598 points, also another intraday record high.
Sales of previously-owned homes rose to a seasonally adjusted annual pace of 5.48 million in October.
The market will also be looking towards Fed chair Janet Yellen, who is schedueld to take part in an event with former Bank of England governor Mervyn King at he New York University's business school.
Apple Inc (NASDAQ:AAPL) led the gains, up 1.88% at US$173.13.
Intuit Inc.(NASDAQ:INTU) was down 3.35% at US$151.92 after the maker of TurboTax and other accounting software unveiled better-than-expected quarterly results late Monday. The guidance issued by the company however failed to impress analysts.
Agilent Technologies Inc.(NYSE:A) was also headed south, easing 0.26% at US$69.94 after its profit forecast missed expectations. The maker of scientific equipment however did post late Monday better-than-anticipated quarterly earnings.
AmerisourceBergen Corp. (NYSE:ABC) saw investor interest, rising 2.61% at US$79.50 after announcing late yesterday that it is planning to buy independent wholesaler H.D. Smith for US$815mln.
Campbell Soup Co (NYSE:CPB) which released its results, saw its shares dip 9.27% to US$45.50.
EARY TRADE
The market is set to draw strength from retailers after upbeat results from Urban Outfitters Inc. (NASDAQ:URBN), Dollar Tree Inc. (NASDAQ:DLTR), Lowe’s Companies Inc and Signet Jewelers Ltd (NYSE:SIG)
But trading volumes are expected to start slow ahead of the Thanksgiving holidays as third quarter earnings come to a close and with hardly any major economic data scheduled.
Yellen to quit Fed board after Powell sworn in https://t.co/MgaS4dbaZV
— Financial Times (@FinancialTimes) November 20, 2017
Also Janet Yellen, the outgoing chair of the Federal Reserve, who has said she will resign her seat on the Fed’s Board of Governors once the new chair is sworn in, is expected to answer questions on her term and the direction of policy, at an event later today.
Bitcoin, which was leading the charge after changing hands above US$8,000 and closed at US$8,240 on Monday, seems to be taking a breather today, down 0.23%.
Shares in Intuit Inc.(NASDAQ:INTU) was slightly slower in premarket action after the maker of TurboTax and other accounting software unveiled better-than-expected quarterly results late Monday. However, the guidance issued by the company failed to impress analysts.
Agilent Technologies Inc.(NYSE:A) looks like it heading down south after the company’s profit forecast missed expectations. The maker of scientific equipment however did post late Monday better-than-anticipated quarterly earnings.
AmerisourceBergen Corp. (NYSE:ABC) could see investor interest after announcing late yesterday that it is planning to buy independent wholesaler H.D. Smith for US$815mln.