U.S. equities traded higher on Tuesday as investors remained unfazed by geopolitical tensions, while the Dow Jones industrial average kept marching toward 20,000.
The blue-chips index was 0.59 percent away from reaching the milestone mark, entering Tuesday trading. In midmorning trade ET, it rose about 90 points, hitting a new intraday high, with Goldman Sachs and Caterpillar contributing the most gains. The S&P 500 rose 0.38 percent, with telecommunications rising more than 1 percent to lead advancers. The Nasdaq composite advanced 0.5 percent, also reaching a new all-time high.
“I think the reason we came out higher is because there was no economic data and volume is pretty light,” said Peter Cardillo, chief market economist at First Standard Financial. “The absence of any macro news has given the bulls total control of the market today.”