Stocks opened higher Tuesday, with the S&P 500 trading at an all-time intraday high as it built on the previous session's record close. A positive tone for global equities was attributed in part to a phone call between top U.S. and Chinese officials that saw them reaffirm their commitment to the phase one trade deal agreed to earlier this year, despite a rise in tensions between Beijing and Washington. The Dow Jones Industrial Average was off 8 points at 28,300, flipping between small gains and losses. The S&P 500 was up 3 points, or 0.1%, at 3,434, while the Nasdaq Composite was up less than 0.1% at 11,383. Shares of Dow components Exxon Mobil Corp. (XOM), Pfizer Inc. (PFE) and Raytheon Technologies Corp. (RTX) were under pressure after S&P Dow Jones Indices announced late Monday that they would be taken out of the blue-chip gauge at the end of the month, to be replaced by Salesforce.com Inc. (CRM), Amgen Inc. (AMGN) and Honeywell International Inc. (HON).
-William Watts; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 25, 2020 09:37 ET (13:37 GMT)
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