Global News

[ad_1] A trader works on the floor of the New York Stock Exchange on Oct. 20, 2023. Michael Nagle | Bloomberg | Getty Images Stocks traded higher Tuesday, as Wall Street tried to close out a dismal month of trading — that saw Treasury yields surge to levels not seen in more than 16 years — on a high note. The broader index rose 0.4%. The Dow Jones Industrial Average added 59 points, or 0.2%, while the Nasdaq Composite gained 0.3%. The S&P 500 advance was held in check mainly by communication services stocks, which was one of just two sectors trading in negative territory in afternoon trading. Notably, Alphabet, Meta Platforms and Netflix shares were all lower. Nvidia was down by more than 1%. The Cboe Volatility Index (VIX) dropped to an 18 handle, below the long-term average of roughly 20. A higher VIX level can point to greater uncertainty in markets. Earnings season continued Tuesday. Caterpillar slid more than 6% after the construction equipment maker said its fourth-...

[ad_1] Pedestrians walk past Yum! Brands Inc. Pizza Hut and KFC restaurants in Shanghai, China. Qilai Shen | Bloomberg | Getty Images China is leaving behind pandemic lockdowns, and U.S. companies like Procter & Gamble , Starbucks and MGM Resorts International say the country's recovery is boosting their overall sales as consumers in their home markets watch their wallets. With its large population and swelling middle class, China is a desirable market for many multinational companies that have seen their U.S. businesses mature. But its zero- Covid policy, which imposed harsh restrictions to stop the spread of the virus, hurt the country's economy — and revenue for the many U.S. companies that sell their goods or services there. After rolling back the policy in December, China's economy grew 4.5% in the first quarter. U.S. companies are reporting that demand in China is returning, boosting their sales at a time when many U.S. consumers are pulling back their spe...