Stocks Opened Higher on Trade Optimism

U.S.stocks opened higher on Tuesday on optimism for a U.S.-China trade deal. The Dow Industrial Average lately jumped 192.13 points, or 0.77%, to 25,245.24. The S&P 500 gained 19.20 points, or 0.71%, to 2,729.00. The Nasdaq Composite rose 53.26 points, or 0.73%, to 7,361.17.

Under Armour (UAA) beat expectations in fourth quarter results, earning an adjusted 9 cents per share versus consensus estimates of 4 cents per share. Revenue of about $1.39 billion also slightly exceeded estimates of $1.38 billion.

Molson Coors (TAP) missed sales expectations in the fiscal fourth quarter, sending shares lower during early trading. The owner of Coors Light and Blue Moon reported sales of $2.42 billion for the quarter, missing expectations of $2.54 billion.

Southern Copper Corporation SCCO reported fourth-quarter 2018 earnings of 38 cents per share. The company reported net income of $293.2 million. Net sales came in at $1,695 million.

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