Published 10:39 AM EST Feb 12, 2019
NEW YORK — U.S. stocks are gaining in early trading after U.S. lawmakers reached a tentative deal to avoid another costly government shutdown.
The deal could help alleviate pressure on the market as the U.S. and China head into talks to avert escalating their dispute over trade.
Major companies continue to report fourth-quarter earnings. Molson Coors fell 6 percent as weak volume dragged down profit and revenue. Elsewhere, Coty soared after investment firm JAB Holdings offered to acquire a controlling stake in the owner of CoverGirl.
The S&P 500 gained 19 points, or 0.7 percent, to 2,728.
The Dow Jones Industrial Average rose 199 points, or 0.8 percent, to 25,252. The Nasdaq added 54 points, or 0.7 percent, to 7,360.
Bond prices fell. The yield on the 10-year Treasury rose to 2.67 percent.
Government shutdown: Lawmakers reach agreement ‘in principle’ to avoid shutdown as Friday deadline looms
Shutdown effect:: Government shutdown stymied frozen tax refunds, tied up IRS phone lines, report shows