Stocks rallied Tuesday, with a positive stream of earnings driving investors’sentiment.
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Quarterly results released Tuesday included Goldman Sachs, UnitedHealth and Johnson & Johnson, which all surpassed expectations. BlackRock reported better-than-expected profits, but sales were hit as investors cut their portfolio risk.
A big focus for the markets will be Netflix earnings in the afternoon.
Economic data released Tuesday including job openings, which reached a record 7.1 million in August.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25657.17 | +406.62 | +1.61% |
| SP500 | S&P 500 | 2792.09 | +41.30 | +1.50% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7580.6225 | +149.88 | +2.02% |
In commodities, gold increased, boosted by a softening dollar, which made the dollar-denominated commodity more affordable for holders of international currencies. Oil dipped, hit by expectations that inventories in the U.S. are rising.
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On Monday, the Energy Information Administration predicted a rise in U.S. shale crude oil production.
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Stocks were down slightly Monday, with traders taking a cautious tone to start the week, following last week’s performance when equities had their worst five days in seven months.
The Dow Jones Industrial Average fell 89.44 points, or 0.35 percent, to 25,250.55. The S&P 500 lost 16.34 points, closing at 2,750.79. The Nasdaq Composite slipped 66.15 points, or 0.88 percent, to 7,430.74.
Economic data released Monday included retail sales, which rose 0.1 percent in September, below the 0.6 percent analysts forecast. Manufacturing in the New York region rose by 2.1 points to 21.1 in October, the New York Fed reported Monday. Economists expected the Empire State manufacturing index would come in at 20.
Fox Business’ Ken Martin contributed to this report
