Tuesday started on a bearish note but gained slight momentum as news emerged that tensions in the U.S.-China trade dispute were easing. The S&P 500 gained midday momentum with earnings reports from major banks,

That beat $3.74 billion from Goldman Sachs, which has dominated equities trading in recent years. Ted Pick – Morgan Stanley’s notoriously foul-mouthed boss – has been eager to usurp the Wall Street rival. Profit at the bank jumped 45% from a year earlier to $4.61 billion, or $2.80 a share, above expectations of $2.10 a share.

The Solomon-led lender beat forecasts compiled by the London Stock Exchange Group of earnings per share of $11 and revenues of $14.1 billion.