Major US stock indices rose on Tuesday, while the Dow Jones index renewed its record high, helped by good reports from the industrial giants 3M (MMM) and Caterpillar (CAT).

In addition, data for October indicated a reliable and accelerated expansion of business activity in the private sector of the United States. The upswing was supported by the fastest growth in the manufacturing sector for eight months, along with yet another reliable growth in output in the services sector. Taking into account seasonal fluctuations, the composite PMI index from IHS Markit increased to 55.7 from 54.8 in September. The last reading reflected the fastest growth in private sector activity since January.

At the same time, the index of production activity from the Federal Reserve Bank of Richmond remained positive in October, although the composite index fell due to a noticeable decline in the supply sub-index, which weakened from 22 to 9. Despite this, the index remained positive for all components, indicating continuing growth. Although most sub-indices fell in October, the employment index increased from 17 to 24, which is the highest level since May 2000.

Oil rose more than 1%, as Saudi Arabia reiterated its intention to strike a balance between supply and demand for oil. Support for prices was also provided by the remaining geopolitical risks for global reserves.

Most components of the DOW index recorded a rise (16 out of 30). The leader of the growth were shares of 3M Company (MMM, + 6.47%). Outsider were shares of International Business Machines Corporation (IBM, -2.40%).

Most sectors of the S & P index finished trading in positive territory. The industrial goods sector grew most (+ 0.8%). The health sector showed the greatest decline (-0.8%).

At closing:

DJIA + 0.72% 23.442.11 +168.15

Nasdaq + 0.18% 6,598.43 +11.60

S & P + 0.17% 2.569.23 +4.25