The Dow and S&P 500 scored new record highs and U.S. Treasury bond yields jumped, as signs of progress in U.S. Bond yields and prices move opposite to one another.
KEEPING SCORE: The S&P 500 index rose 0.6% as of 10 a.m.
Of the 430 companies in the S&P 500 that have reported earnings through Thursday, almost three-quarters have beaten analyst expectations, according to Refinitiv. -China trade relations relieved investors, but a report raising fresh worries about the outlook for a deal limited the day's gains.
The S&P 500 posted 54 new 52-week highs and five new lows; the Nasdaq Composite recorded 118 new highs and 85 new lows.
Eastern time. The Dow Jones Industrial Average rose 202 points, or 0.7%, to 27,691. Apple (NASDAQ:AAPL), JPMorgan Chase (NYSE:JPM), truck maker Paccar (NASDAQ:PCAR) and Walmart (NYSE:WMT) hit all-time highs.
The higher yields dampened buying interest in the rate-sensitive utilities (-1.4%) and real estate (-1.1%) sectors, while consumer discretionary (-0.6%) and consumer staples (-0.4%) were the other two sectors that finished lower. The Nasdaq added 55 points, or 0.7%, to 8,465.
Markets in Europe and Asia also rose.
Later in the day, major US corporations including The Wall Street Journal's parent, News Corp., as well as Walt Disney, will report earnings. Both nations have agreed to a truce, but the terms are still vague and they have yet to sign a deal. Wall Street has been anxious that tariffs will crimp corporate and economic growth. -China trade deal in early October.
The rally also lifted the Dow and Nasdaq over the last two weeks to multiple records.
Almost three-quarters of the 383 S&P 500 companies that have reported results so far have beaten profit expectations, according to IBES data from Refinitiv.
Shares of Qualcomm rose 6.32 percent, after the USA semiconductor and telecommunications equipment company reported third-quarter earnings that topped analysts' estimates, as boosted by its licensing operation. Several other winners included drug distributor Cardinal Health, which rose 5.9% after reporting surprisingly good results.
Expedia Group Inc tumbled 22.5% as the online travel booking company missed quarterly profit estimates.