Tuesday morning brought another positive move to the stock market as investors kept their eyes closely on trade talks between the U.S. and other major trading partners across the globe. As of 11:05 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 28 points to 25,927. The S&P 500 (SNPINDEX: ^GSPC) gained 6 points to 2,884, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 19 points to 7,873.
Huge news on the tobacco front got a lot of attention from investors as Altria (NYSE: MO) and Philip Morris International (NYSE: PM) mull recombining to become a single global powerhouse. Meanwhile, Costco Wholesale (NASDAQ: COST) made its first foray into China, and the reception that the warehouse retailer got from its customers there showed exactly how much potential the world's second-largest economy has for the company.
Shares of Altria jumped 7% after reports surfaced that the U.S. tobacco giant was talking to Philip Morris about a potential merger. Philip Morris shares were down 9% Tuesday morning, as investors expect that the larger international tobacco company will be the one to offer a premium to Altria in an all-stock combination.