|Day's Range||8,193.89 - 8,242.99|
|52 Week Range||6,190.17 - 8,264.78|
U.S. stocks rose on the heels of stronger-than-expected earnings results from several major companies Tuesday morning and an announced bipartisan agreement over the debt ceiling.
U.S. stocks ended slightly higher Monday at the start of a crowded week for corporate earnings. Meanwhile, crude oil prices added to Friday’s gains as tensions escalated with Iran.
U.S. stocks rose on Tuesday, boosted by upbeat earnings and forecasts from Coca-Cola and United Technologies, while a two-year debt ceiling and budget deal between President Donald Trump and Congress buoyed sentiment. Coca-Cola Co shares rose as much as 5.7% to hit a record high, after the fizzy drink maker beat quarterly earnings expectations and raised its full-year organic revenue forecast.
The head of UBS Group AG warns that a global rise in asset prices isn’t a development that portends well for markets.
"You're having good results from a variety of companies and that has put a positive spin on the opening," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. The International Monetary Fund cut its global growth forecast through 2020 over concerns about the protracted tariff spats between the United States and its trading partners and the prospect of a disorderly Brexit. The European STOXX 600 benchmark rose over 1%, helped by a 6% surge in automakers and growing certainties of policy easing from the European Central Bank and the U.S. Federal Reserve.
U.S. stocks were rising Tuesday, with Wall Street building on the previous session’s modest gains as earnings season picks up steam.
U.S. stocks rose on Tuesday boosted by better-than-expected earnings and forecast raises from blue-chip companies including Coca-Cola and United Technologies, soothing concerns over the pace of economic growth. Coca-Cola Co shares rose 4.9%, the most among stocks listed on the Dow Jones index, after the fizzy drink maker beat quarterly earnings expectations and raised its full year organic revenue forecast. Its gains pushed the consumer staples sector 0.9% higher, the biggest gainer among the major S&P sectors.
U.S. stocks headed higher at the open Tuesday, with the market responding positively to upbeat earnings from companies and news that Congress struck a debt-ceiling pact, which would avoid a government shutdown. The Dow Jones Industrial Average was trading 106 points, or 0.4%, higher at 27,279, the S&P 500 index rose 0.4% to 2,996, while the Nasdaq Composite Index advanced 0.4% at 8,235. Dow members Coca-Cola Co. and United Technologies Corp. , reported better-than-expected results, which delivered a lift to blue chips and the broader market. Late Monday, President Donald Trump and congressional leaders announced a budget deal that would avoid the possibility of a government shutdown or federal default. Meanwhile, investors were also watching the announcement of new U.K. Prime Minister Boris Johnson, a hard-line politician who has advocated for Britain exiting the European Union without a trade pact with the EU. Johnson takes over from Conservative Party leadership, replacing Theresa May, who was unable to forge a Brexit deal. Looking ahead, investors also are watching for results from insurance firm Travelers Cos. and Visa Inc. were also due Tuesday.
Recent meetings at the White House about restrictions on China’s Hauwei gave investors fodder for optimism about trade talks, as did Tuesday’s crop of earnings reports.
Day after day, (FB) (ticker: FB) has been the subject of troubling headlines. The Federal Trade Commission has reportedly approved a $5 billion fine on the company for mishandling users’ private information. President Donald Trump wants to sue Facebook over, well, what exactly isn’t entirely clear.
Also, defense industry names can breathe easier with word of debt ceiling and federal spending deal.
* Chipmakers, electronics parts makers lead gains * SoftBank Group up on hopes for T-Mobile & Sprint merger approval * Trading remains subdued ahead of corporate results By Tomo Uetake TOKYO, July 23 (Reuters) - Japanese stocks hit their highest in more than a week on Tuesday, with the semiconductor sector tracking Wall Street gains, though trading remained thin ahead of the domestic earnings season. The benchmark Nikkei share average rose 1.0% to 21,620.88, its highest close since July 12. On Wall Street overnight, S&P 500 climbed 0.3%, a shade below its July 15 record high close, while the Dow Jones Industrial Average rose 0.1% and the Nasdaq Composite added 0.7%. Chip stocks gained globally on news U.S.
Donald Trump loves telling us all about how great the stock market has done under his leadership. And why not? Despite a few hiccups, it’s been a great run.
The S&P 500 climbed toward a record high on Monday, supported by expectations of lower interest rates, while investors awaited quarterly earnings from marquee companies Facebook, Alphabet and Amazon later this week. Facebook Inc rallied 2.0% ahead of its report due out after the bell on Wednesday, while Amazon.com Inc and Google-parent Alphabet Inc were each up more than 0.7% ahead of their reports on Thursday. Investors' reactions to the reports of these top-tier growth companies could affect broader market sentiment, with the S&P 500 about 1% below its July 15 record high close.
All three major indexes closed with gains on Monday at the beginning of a busy week. About a third of S&P 500 companies report second-quarter earnings this week, including United Technologies, Snap, Coca-Cola, and Chipotle Mexican Grill on Tuesday.
Acadia Pharmaceuticals Inc. shares dropped in the extended session Monday after the biotech drug maker said its schizophrenia treatment did not pass a late-stage clinical trial. Acadia shares fell 15% after hours, following a 1.1% rise to close the regular session at $25.97. In a Phase 3 clinical trial, Acadia said that its treatment pimavanserin did not perform better than a placebo on a statistically significant basis when added to an existing antipsychotic treatment for schizophrenia. By Monday's close, Acadia shares had gained nearly 61% on the year, compared with a 19% rise in the S&P 500 index and a 24% gain in the Nasdaq Composite Index .
Asian shares were mostly lower Monday, tracking losses on Wall Street, though a newly launched technology stocks market in Shanghai soared with its trading debut. Regulators have approved 25 companies in information technology and other fields for the STAR Market.
Stocks rose Monday on the strength of technology stocks, while investors began digesting a series of earnings reports in the busiest week for second-quarter corporate results.
Stocks logged small gains Monday, buoyed by tech shares, as investors prepared for a busy week that will see more than 140 S&P 500 companies and a third of Dow Jones Industrial Average components deliver second-quarter results. The Dow rose around 17 points, or 0.1%, to end near 27,172, according to preliminary figures, while the S&P 500 rose around 8 points, or 0.3%, to finish near 2,985. The tech-heavy Nasdaq Composite advanced around 58 points, or 0.7%, to close near 8,204. Tech stocks were the best-performing of the S&P 500's 11 sectors, rising 1.2%. Shares of Micron Technology Inc. rose 3.7% after Goldman Sachs upgraded the chip maker to buy from neutral on Monday, citing expectations for an improved supply/demand balance in coming months. Other memory-chip companies also advanced.
Senator Elizabeth Warren is sending out warning signs of an imminent economic crisis. The 2020 presidential hopeful detailed what the Trump administration has to do to prevent it in a post on Medium. Yahoo Finance's Kristin Myers and Brian Cheung are joined by Nathan Latka, CapitalistBook.com author, to discuss.