U.S. stocks rallied Tuesday, with the Nasdaq Composite Index eking out a new closing record, as investors digested a batch of economic data and corporate earnings reports.
The Dow Jones Industrial Average rose 37.87 points, or 0.19 percent, to 20,090.29. The S&P 500 edged up 0.52 point, or 0.02 percent, to 2,293.08.
The Nasdaq Composite Index added 10.67 points, or 0.19 percent, to 5,674.22.
U.S. goods and services deficit was 44.3 billion U.S. dollars in December, down 1.5 billion dollars from the revised level in November, announced the U.S. Commerce Department Tuesday.
For 2016, the goods and services deficit increased 1.9 billion dollars, or 0.4 percent, from 2015.
Meanwhile, the number of job openings was little changed at 5.5 million on the last business day of December, the U.S. Labor Department reported Tuesday.
In corporate news, before Tuesday's opening bell, General Motors Co. announced record full-year 2016 results driven by strong retail demand for full-size trucks and SUVs in the United States, continued industry growth in China and effective cost performance across the globe. The car maker's shares, however, tumbled 4.70 percent to 35.10 U.S. dollars apiece on bordertax concerns.
Shares of Michael Kors plunged 10.80 percent to 36.82 dollars on Tuesday, after the handbag seller reported a bigger-than-expected decline in same-store sales during its holiday quarter due to weak demand in North America and Europe.
The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the fourth quarter of 2016 are expected to rise 8.2 percent year on year, while the revenues are forecast to increase 4.3 percent.
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