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 Stocks opened slightly higher Tuesday, with all three major indexes scoring new all-time highs as investors remained optimistic over prospects for a so-called phase one trade agreement between the U.S. and China. The Dow Jones Industrial Average was up around 47 points, or 0.2%, at 28,083, while the S&P 500 advanced 3.37 points, or 0.1%, to 3,125.40. The Nasdaq Composite rose 25 points, or 0.3%, to 8,574. Shares of Boeing Co. rose 1.3% to lead Dow gainers after the embattled aircraft maker received 50 orders for its grounded 737 MAX plane.
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 U.S. stocks edged up to new highs Tuesday despite uncertainty about progress for a partial China trade deal, with gains in Boeing on receiving new orders offset by a slump in Home Depot after reporting a poor outlook.
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Shares of Home Depot Inc. sank 4.9% in morning trading Tuesday, which puts them on track to suffer the biggest one-day post-earnings decline in over 10 years. Earlier, the home improvement retailer beat fiscal third-quarter profit expectations but missed on total and same-store sales, and lowered its full-year outlook. The last time the stock fell as much on the day after earnings was May 19, 2009, when the stock dropped 5.3% after fiscal first-quarter 2019 results. Since then, the most disappointing earnings report before Tuesday was Q2 2017 results on Aug. 15, 2017, when the stock fell 2.7%. The stock's $11.60 price decline on Tuesday was shaving about 79 points off the Dow Jones Industrial Average's price, which was down 19%. Home Depot's stock, which closed at a record high on Monday, has rallied 32.3% year to date, while the Dow Jones Industrial Average has gained 20.1%.
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Shares of AT&T Inc. are down 1.7% in premarket trading Tuesday after MoffettNathanson analyst Craig Moffett downgraded the stock to sell from neutral. "Despite a target price well below AT&T's recent trading range, we've remained Neutral since our upgrade from Sell last November, based largely on the view that global yield starvation would attract capital to AT&T irrespective of its fundamentals," he wrote. "But in the wake of a strong rally that has left AT&T's valuation stretched and its dividend yield less compelling (particularly when measured against the recent recovery in the 10-year Treasury yield), we believe the time has come when the market will start paying attention to fundamentals again." AT&T's dividend yield is 5.15%, while the S&P 500's in 1.9%. He questions whether the company will be able to achieve its 2020 and three-year targets given challenges in its entertainment business, secular problems in business wireline, and a difficult pay-TV landscape. This will put pressure on AT&T's wireless business to deliver strong results, in Moffett's view, but that industry is becoming more competitive. He kept his $30 target price. AT&T shares have risen 39% so far this year, as the S&P 500 has gained 25%.
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Stocks point to a continued record run on Wall Street Fox BusinessAsian markets mixed on continued uncertainty over U.S.-China trade talks MarketWatchTrade Talk Euphoria Dominates But The Hong Kong Bill And Huawei Threaten To Upset The Apple Cart Yahoo NewsEuropean stocks seen higher despite concerns for US-China trade talks CNBC
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Myovant Sciences Ltd. shares soared 79% in premarket trade Tuesday, after the healthcare company said a late-stage trial of a treatment for advanced prostate cancer achieved a 97% response rate. Basel, Switzerland-based Myovant said its phase 3 trial dubbed Hero of oral relugolix met its primary endpoint as well as all six key secondary endpoints. The company is planning to submit a new drug application to the U.S. Food and Drug Administration in the second quarter of 2020 and will pursue regulatory approvals in Europe and Japan. In the analysis of the primary endpoint, 97% of men receiving the drug once daily achieved sustained testosterone suppression, the company said. Shares have fallen 63.0% in 2019 through Monday, while the S&P 500 has gained 24.5%.
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TJX Cos. stock rose 1.3% in Tuesday premarket trading after the off-price retailer reported third-quarter earnings and sales that beat guidance. Net income totaled $828.3 million, or 68 cents per share, up from $762.3 million, or 61 cents per share, last year. Sales of $10.45 billion was up from $9.83 billion last year. The FactSet consensus was for EPS of 66 cents and sales of $10.32 billion. Same-store sales rose 4%, including a 4% increase for Marmaxx in the U.S. and 6% increase for TJX international. For the fourth quarter, TJX expects EPS in the range of 74 cents to 76 cents. The FactSet consensus is for 77 cents. And for the full-year, the company expects EPS in the range of $2.61 to $2.63, while FactSet expects $2.61. TJX stock is up 33.1% for the year to date while the S&P 500 index has gained 24.5% for the period.
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Swedish prosecutors have dropped their investigation of a rape allegation against Wikileaks Founder Julian Assange after deciding the evidence wasn't strong enough, the Wall Street Journal reported on Tuesday. Sweden's Deputy Director of Public Prosecution Eva-Marie Persson told a press conference in Stockholm that after re-interviewing five witnesses, and interviewing two new witnesses, the evidence was not deemed sufficient to file an indictment. The injured party's statement has changed over time, which is "natural" after almost a decade since the charges were brought, said Persson. Other witness statements do not corroborate, she said. Assange spent seven years in the Ecuadorian embassy in London seeking refuge from the charges brought by two women in Sweden in 2010. Assange was forcibly removed from the embassy in April after Ecuador revoked his diplomatic immunity and was sentenced to 50 weeks in prison for skipping bail.
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Shares of Medtronic PLC surged 2.4% in premarket trading Tuesday, after the medical technology company reported fiscal second-quarter earnings that rose above expectations, and raised its full-year profit outlook, but the stock slipped 1.1% in premarket trading to extend a pullback from the previous session's all-time intraday high. Net income for the quarter to Oct. 25 rose to $1.36 billion, or $1.01 a share, from $1.12 billion, or 82 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.31, above the FactSet consensus of $1.28. Revenue rose 3.0% to $7.71 billion, above the FactSet consensus of $7.66 billion, as beats in diabetes, restorative therapies and minimally invasive therapies segment revenue offset a slight miss in cardiac and vascular revenue. For fiscal 2020, the company affirmed its revenue growth outlook of 4.0% but raised its adjusted EPS guidance range to $5.57 to $5.63 from $5.54 to $5.60. The stock had closed at a record $112.06 on Friday, then rose to an record intraday high of $114.46 on Monday before reversing to closed down 0.7%. The stock has rallied 22.3% year to date through Monday, while the S&P 500 has climbed 24.5%.
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