US markets ended higher Tuesday as the S&P 500 narrowly avoided moving into negative territory at the close.
A bump from Qualcomm helped, as the chipmaker’s stock exploded 23% after settling its royalty battle with Apple.
The Dow gained about 70 points after a late boost from Boeing Co. The beleaguered airplane maker was awarded a $14.3 billion bomber maintenance contract Tuesday afternoon, the Miami Herald reported, which sent shares up 1.7% to lead the blue chips.
UnitedHealth Group brought the industrials back down to Earth a bit. The stock turned sour Tuesday afternoon when its CEO warned investors that Medicare-for-All could destabilize the US health system, CNBC reported.
The Housing Market Index increased 1 point to 63 in April, according to survey data from the National Association of Homebuilders. The index, which measures the single-family housing market, has held in the low 60s since February, and anything above 50 is considered positive.
The Dow Jones Industrial Average rose 0.3%, 67 points, to close at 26,452.7. The Nasdaq finished up 0.3% at 8,000.2 points, and the S&P 500 Index was up 0.05 to settle at 2,907.1 points.
At the small-cap level, the Russell 2000 Index advanced 0.2% to end the day at 1,582.8, and the S&P SmallCap 600 Index closed up 0.4% to 970.1.
1:06 pm: Wall Street stays positive as traders take in earnings season
US markets hovered just above flat as investors digested another day of earnings season.
The Dow gained about 40 points, bolstered by strong gains from Johnson & Johnson, which reported before the bell. The drugmaker was up 2% to lead the blue chips.
UnitedHealth Group brought the industrials back down to Earth a bit after the stock turned sour Tuesday afternoon after its CEO warned investors that Medicare-for-All could destabilize the US health system, CNBC reported.
The S&P 500 initially flirted with an all-time high of 2,940.9 thanks in part to Netflix, which got an upgrade from Deutsche Bank just ahead of its earnings report.
The Housing Market Index increased 1 point to 63 in April, according to survey data from the National Association of Homebuilders. The index, which measures the single-family housing market, has held in the low 60s since February, and anything above 50 is considered positive.
The Dow Jones Industrial Average rose 0.2%, 44 points, to 26,428.8. The Nasdaq was up 0.4% to 8,009.5, and the S&P 500 was up 0.2% to 2,910.2.
At the small-cap level, the Russell 2000 Index advanced 0.3% to 1,584.6, and the S&P SmallCap 600 Index was up 0.4% to 970.3.
In London, the FTSE ran into resistance around the 7,475 mark but edged up 0.4% to 7,469.9. The French CAC closed 0.4% ahead at 5,528.7, and the German DAX jumped 0.7% to end the day at 12,101.3.
10:12 am: Wall Street starts strong amid a healthy earnings season
US stocks took a leap forward at the open as earnings season was in full swing.
The Dow gained about 50 points, bolstered by strong gains from Johnson & Johnson, which reported before the bell. The drugmaker was up 2.5% to lead the blue chips.
The S&P 500 flirted with its all time high of 2,940.9 thanks in part to Netflix, which got an upgrade from Deutsche Bank just ahead of its coming earnings report after the close.
On Monday, Federal Reserve Bank of Boston President Eric Rosengren said at a speech in North Carolina that the Fed should not alter monetary policy, Reuters reported. “It’s appropriate for interest rates to be paused right now.”
The Dow Jones Industrial Average rose 0.2%, 51 points, to 26,436. The Nasdaq increased 0.4% to 8,006.8, and the S&P 500 grew 0.2% to 2,911.5.
At the small-cap level, the Russell 2000 advanced 0.3% to 1,583.2, and the S&P Smallcap 600 was up 0.3% to 968.5.
In London, the FTSE ran into resistance around the 7,475 mark but edged up 0.5% to 7,470.5. The French CAC moved 0.3% ahead to 5,524.4, and the German DAX jumped 0.7% to 12,101.6.
7:23 am: US stocks set to start on front foot after positive Asian session; Netflix earnings in the frame
US stocks are set to start on the front foot and the Dow Jones Industrial Average with a triple digit gain Tuesday as traders await more earnings, including from streaming titan Netflix Inc (NASDAQ:NFLX) after the bell.
Investors will be particularly looking for subscriber numbers as usual and a response from the group to The Walt Disney Company's (NYSE:DIS) new service, which was announced last week and will launch later this year.
Yesterday, it was big banks and Goldman Sachs Group Inc (NYSE:GS) revealed that its net income had dropped 20% during the first quarter versus a year ago. Citigroup Inc (NYSE:C) also failed to impress the market with its numbers.
Market Snapshot: Stock futures move higher as investors await fresh round of earnings: Stock-index futures point to a higher start for Wall Street as earnings season picks up steam. https://t.co/mXAUP1VPfo MARKETWATCH
— FinanzLinksUSA (@FinanzLinksCom) 16 April 2019
Wall Street closed lower Monday, with the Dow Jones losing over 27 points; the Nasdaq dropping around eight and the S&P 500 losing nearly two points.
But in futures trade today, the DJIA is up 123 points; the S&P 500 futures is ahead by nearly ten and the Nasdaq exchange is ahead by almost 33 points.
It comes after a positive showing in Asia overnight, with the Nikkei 225 adding over 52 points in Japan and the Shanghai Composite Index closing nearly 76 points ahead at 3,253.
In Europe, equities are mixed at the time of writing, while Brexit still dominates newswires despite the Easter Parliamentary recess. The FTSE 100 is up nearly 28 points at 7,464. It follows solid UK jobs data. The German DAX is ahead by around 72 and the French CAC 40 is down 2.5 points at 5,506.
Earlier, David Madden, market analyst at CMC Markets, wrote in a note: "Firmer property prices in China combined with continued optimism surrounding the US-China trade talks drove Chinese stocks higher. The bullish sentiment spilled over to Europe, and the FTSE 100 is posting modest gains, while the DAX and CAC 40 have racked up new six month highs."