Investing.com – Late buying pushed the S&P 500 and other indexes to new intraday and closing highs Tuesday before Wall Street starts to depart for the Thanksgiving holiday.
The S&P 500 was up 0.22%. The Dow Jones industrials added 0.20% and the Nasdaq Composite was up 0.18%.
Helping the market was a comment from President Donald Trump saying a phase one trade agreement with China was close, though he didn't say how close.
Meanwhile, Best Buy (NYSE:BBY) and Dick’s Sporting Goods (NYSE:DKS) hit 52-week highs after reporting better-than-expected third-quarter earnings. Plus, Walt Disney (NYSE:DIS) rose 1.4% after a report its Disney+ streaming service was getting a million new subscriber startups a day.
Also hitting new highs were Microsoft (NASDAQ:MSFT), Allstate (NYSE:ALL) and Ross Stores (NASDAQ:ROST).
A loser was Dollar Tree (NASDAQ:DLTR), suffering because tariffs on Chinese imports were squeezing profits.
Adding some additional cheers was the Commerce Department's new home sales report, which showed October sales down 0.7% but September sales revised up to 738,000 units, the highest level since July 2007 – just before the financial crisis hit.
Crude oil and gold rose modestly. Interest rates were lower with the 10-Year Treasury yield falling to 1.738% from Monday's 1.764%.
Trading may have softened a bit in the afternoon as people began to leave for the long Thanksgiving weekend. A full day of trading is set for Wednesday, followed by a market close on Thursday and a half-day scheduled for Friday.