Wall Street shares close higher
Fed policy meet starts
US crude up almost 4%
US stocks forged ahead to close higher on Tuesday after a myriad of big cap earnings, with the Dow Jones closing up 100 at 21,613.
The tech heavy Nasdaq index gained 1.27 at 6,4212 and the S&P500 added 7.22 at 2,477.
The TSX in Toronto added 79 points to 15,207.
US crude is up 3.735 to $47.91 at the time of writing.
MID-SESSION
US benchmarks are surging ahead at mid-session with the S&P 500 on track for a record high as the Fed starts its two day policy meeting and traders digest a veritable batch of earnings.
McDonald’s (NYSE:MCD), the burger giant added over 5% to $159.71 and Caterpillar Inc (NYSE:CAT) added 5.35% to $114.38 as its quarterly numbers impressed.
Alphabet (NASDAQ:GOOGL) lost 2.73% to $971.05.
Biogen Inc (NASDAQ: BIIB) were lower but have nudged 0.36% ahead now at $285.72 as it posted a second quarter EPS (earnings per share) that beat expectations of 63 cents along with a $17 million beat for sales.
In the markets, the Dow Jones Industrial Index is ahead by an impressive 129 points at 21,642, while the S&P 500 added over ten points at 2,480.
The tech heavy Nasdaq index gained almost 11 at 6,421.
US crude went 3.04% higher at $47.76 a barrel.
In Toronto, the TSX index added 76 points at 15,204.
In other news, post-Brexit trade talks between the UK and the US are now underway in Washington.
Caterpillar smashes profit estimates, raises 2017 forecast again https://t.co/gFr7W0u5ij pic.twitter.com/lyiGlRuuNm
— Reuters Top News (@Reuters) July 25, 2017
OPEN
Taking the cue from Europe, US stocks started higher on Tuesday as the oil price firmed and traders digested another host of quarterly earnings.
The Dow Jones rose 64 at 21,577, the tech heavy Nasdaq actually was down a tad - 1.10 points but the S&P 500 added almost 6 points, to stand ta 2,475.
In Toronto, the largest index there - the S&P/TSX Composite was up over 83 points at 15,212.
The US crude price - West Texas Intermediate - wasd up over 25 to $47.30 a barrel, boosting oil stocks. Chevron Corp added 1.54% to $104.79. Exxon Mobil Corp gained 0.91% to $80.61.
Also ahead is a Federal Open Market Committee decision on interest rates due at 2 pm Eastern Time today.
In companies, Michael Kors Holdings (NYSE:KORS) shares shed 2.69% to $33.97 as it emerged that it had made an offer to buy luxury shoe brand Jimmy Choo in a £896mln deal.
Jimmy Choo has a new owner -- Michael Kors says it will pay $1.2 billion for the luxury shoe brand https://t.co/ATRDemXtMG pic.twitter.com/iKEVcTijqa
— CNN (@CNN) July 25, 2017