|Day's Range||7,493.44 - 7,603.01|
|52 Week Range||6,517.93 - 8,133.30|
U.S. equities climbed Tuesday following a slew of third-quarter earnings reports from big banks and consumer companies, many of which beat Wall Street expectations in key metrics.
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The three main Wall Street indexes rose more than 1.5 percent on Tuesday as upbeat earnings from blue-chips such as Johnson & Johnson and Goldman Sachs eased jitters over the impact of rising interest rates and tariffs on corporate profits. Insurer UnitedHealth rose 3.8 percent and J&J 2.1 percent after the two Dow components topped estimates for quarterly profit and boosted their earnings forecast for the year.
All of the S&P 500 index sectors on Tuesday were trading in positive territory, and 10 of those sectors boast gains of at least 1%, led by 2.3% surge in the information technology sector. The S&P 500 index was up 1.6% at 2,794, trading at around session highs, with the tech sector up 2.5%, and health-care stocks rallying by 2.2%. The tech-heavy Nasdaq Composite Index , meanwhile, was up 2.1% at 7,589 and the Dow Jones Industrial Average climbed by more than 400 points or 1.6% at 25,656. A day earlier technology and internet-related shares led U.S. stocks to modest losses. On Tuesday, Wall Street stocks, after a mostly downbeat stretch for equity benchmarks, were rising on the back of a strong round of quarterly corporate resulst from banks Goldman Sachs Group Inc. , Morgan Stanley , and health-care names UnitedHealth Group Inc. and Johnson & Johnson .
Technically speaking, the major U.S. benchmarks have reversed from multi-month lows, rising in the wake of an aggressive October downdraft, writes Michael Ashbaugh.
The Dow Jones Industrial Average was trading sharply higher midday Tuesday, putting blue chips on track to book the best one-day gain since April . The Dow was up about 411 points, or 1.6%, at 25,658. That gain was partly on the back of a surge in shares of component UnitedHealth Group Inc., which was delivering a roughly 68-point jolt to the price-weighted equity gauge. Share gains for UnitedHealth come after the health-care company raised its full-year earnings outlook and said it continues to see growth in health-care plan membership and premiums. Meanwhile, the S&P 500 index was climbing 1.6% at 2,795 and the Nasdaq Composite Index advanced by 2.1% to 7,587. Wall Street investors appear to be focusing upbeat earnings, including those from Goldman Sachs Group Inc. , Johnson & Johnson and Morgan Stanley .
U.S. stocks are on the rise on Tuesday, reversing a lower finish by major benchmarks on Monday, as investors took cheer in third-quarter earnings.
Stellar profit numbers and strong economic data have combined to erase many of the worries that caused last week’s decline.
Ericsson (ERIC) stock has returned 43% in the last 12 months, -3% in the last month, and 4.7% in the last five trading days. In comparison, the SPDR S&P 500 ETF (SPY) and the PowerShares QQQ Trust, Series 1 ETF (QQQ) have returned 4.8% and 12.5%, respectively, in 2018. Of the 12 analysts tracking Ericsson, four have recommended a “buy,” six have recommended a “hold,” and two have recommended a “sell” for the stock.