US stocks rose on Tuesday, building on the previous session’s strong gains as investors awaited a resolution to a stalemate between congressional Democrats and Republicans on a fresh fiscal relief package. The Dow Jones Industrial Average picked up 0.6%, lifted by gains in McDonald’s Corp. and UnitedHealth Group Inc. The S&P 500 index rose 0.4%, and the Nasdaq Composite Index finished 0.4% higher.
Asian markets were mixed on Wednesday after a report that the U.S. and China will to meet to discuss compliance with their phase-one trade deal. High-level talks between U.S. and Chinese officials will be held on August 15. During the event, China will likely bring up concerns over the recent U.S. crackdown against Chinese tech companies.
On the data front, a private survey of China’s services sector in July showed a slower expansion as compared to the previous month. In particular, the Caixin/Markit Services Purchasing Manager’s Index came in at 54.1, lower than June’s reading of 58.4.
Japan’s Nikkei 225 slipped 0.6% while Hong Kong’s Hang Seng index edged up 0.7%. The Shanghai Composite rose 0.2%, South Korea’s Kospi rose 1% while Australia’s S&P/ASX 200 fell 0.5%.