Futures tied to the major U.S. stock indexes slipped at the start of the overnight session after the Nasdaq Composite notched a new record.
Shares of consumer technology company Apple rose 2.1% on Tuesday to reach a new all-time high, notching the benchmark one day after it unveiled new operating systems for its iPhone and computers. Apple pleased its investors further by announcing it will phase one Intel chips in favor of its own products when building new Mac devices.
Investors also kept a close eye on comments from White House health advisor Dr. Anthony Fauci, who on Tuesday said thein new Covid-19 cases. Fauci, the director of the National Institute of Allergy and Infectious Diseases, also struck a more upbeat tone on a vaccine potential and said he expects one by early 2021.
Tuesday's gains during regular trading followed a more turbulent overnight session after conflicting signals from the Trump administration on its landmark trade deal with China. Trump trade advisor Peter Navarro triggered confusion Monday evening afterPresident Donald Trump then tweeted that the accord was "fully intact" and said he hoped Beijing would live up to its agreements in the deal.
The about-face from the White House highlighted the fragility of the accord struck between the globe's two largest economies earlier this year. Tensions have been rising between the U.S. and China in recent months over the origins of the coronavirus pandemic and Beijing's influence over Hong Kong.for exclusive insights and analysis, and live business day programming from around the world.
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