Stocks stage comeback amid hope for US-China trade talks

AP/Saul Loeb

US President Donald Trump, left, and Chinese President Xi Jinping arrive for a meeting on the sidelines of the G-20 Summit in Hamburg, Germany.

Stocks staged a comeback Tuesday after a three-session losing streak amid optimism for cooling trade tensions between the US and China and after a series of strong earnings reports. The dollar rose, and Treasury yields fell.

Here's the scoreboard:

Dow Jones industrial average: 25,418.10 +111.27 (+0.44%)

S&P 500: 2,816.67 14.07 (+0.50%)

Nasdaq Composite: 7,671.79 +41.78 (+0.55%)

1. Facebook said it uncovered and deleted a group of accounts attempting to influence the November midterm elections through a coordinated disinformation campaign. The findings resemble those related to Russian efforts to influence the 2016 election, the social media giant said.
2. Washington and Beijing may be able to avoid further trade escalations. Bloomberg reported representatives of Treasury Secretary Steve Mnuchin and Chinese Vice Premier Liu He are working toward a restart in trade talks, according to two people familiar with the matter.
3. Amid rising tensions between Tehran and Washington, Iranian President Hassan Rouhani rebuffed President Donald Trump's suggestion to meet. After the two leaders swapped a series of threats last week, Trump told reporters Wednesday he would be willing to meet Rouhani anytime and without preconditions. But Iranian officials said that would not be "appropriate" at this point, according to the Wall Street Journal.
4. American workers saw the largest pay raises in nearly a decade in the year up to June. The employment-cost index rose 2.8% last month from a year earlier, the Labor Department said, the most since September 2008.
5. Earnings season rolls on. Pfizer topped estimates and raised its forecast. Sony and Nintendo also beat. Apple reports after the bell - follow Business Insider's live updates here.

And a look at the upcoming economic calendar:

• The Federal Reserve announces its rate decision.
• Tesla, Volkswagen and BMW report earnings.

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