Investing.com – U.S. stock markets rallied on Tuesday after Alcoa, the largest U.S. aluminum producer and railroad operator CSX reported better-than-expected second quarter earnings, boosting hopes that global growth is strengthening.
During early U.S. trade, the Dow Jones Industrial Average was up 1.35%; the S&P 500 index rose 1.29% and the Nasdaq Composite index advanced 1.12%.
Earlier Tuesday, official data showed that the U.S. posted a larger than expected trade deficit in May, as imports from China outstripped exports.
In a report, the U.S. Bureau of Economic Analysis said the trade balance for May showed a deficit of USD 42.3 billion, after posting a deficit of USD 40.3 billion in April.
Economists had expected the deficit to contract to USD 39.3 billion in May.
Across the Atlantic, European stock markets were also up: France’s CAC 40 rose 1.98%; Germany's DAX climbed 1.92%; Britain's FTSE 100 rose 1.95%; and the EURO STOXX 50 advanced 1.9%.
Earlier in the day, Greece's Public Debt Management Agency sold EUR 1.625 billion of 6-month Treasury bills, its first debt auction since receiving an EU/IMF emergency loan package in May, easing fears over the country's ability to borrow money on the financial markets.
During early U.S. trade, the Dow Jones Industrial Average was up 1.35%; the S&P 500 index rose 1.29% and the Nasdaq Composite index advanced 1.12%.
Earlier Tuesday, official data showed that the U.S. posted a larger than expected trade deficit in May, as imports from China outstripped exports.
In a report, the U.S. Bureau of Economic Analysis said the trade balance for May showed a deficit of USD 42.3 billion, after posting a deficit of USD 40.3 billion in April.
Economists had expected the deficit to contract to USD 39.3 billion in May.
Across the Atlantic, European stock markets were also up: France’s CAC 40 rose 1.98%; Germany's DAX climbed 1.92%; Britain's FTSE 100 rose 1.95%; and the EURO STOXX 50 advanced 1.9%.
Earlier in the day, Greece's Public Debt Management Agency sold EUR 1.625 billion of 6-month Treasury bills, its first debt auction since receiving an EU/IMF emergency loan package in May, easing fears over the country's ability to borrow money on the financial markets.