4:05pm: US equities end higher on upbeat earnings parade
US stocks closed higher as companies continue to report strong third-quarter earnings.
As of Tuesday, more than 82% of S&P 500 companies have reported earnings beating expectations.
One the day, the Dow Jones Industrial Average increased by 200 points, or 0.57%, to 35,458, while the S&P 500 rose 0.74% to 4,519.
And the tech-heavy Nasdaq climbed 0.71% to 15,129.
1.00pm: Earnings improve risk appetite
US stocks rose as investors parsed earnings reports for insight into how companies are growing impressively despite coping with inflation, supply-chain disruptions, labor shortages and higher energy costs.
Equity indices were a sea of green in afternoon trading due to strong quarterly earnings.
The S&P 500 gained 0.6%, while the Dow Jones Industrial Average added 0.5%, or about 170 points. The tech-heavy Nasdaq Composite rose 0.7%.
Third-quarter earnings season is in its early days, with about 10% of S&P 500 companies having reported. Of those, roughly four out of five have beaten profit forecasts, according to FactSet.
11.55am: Proactive North America headlines:
Chesapeake Financial Shares grows earnings on the back of rising assets, lower non-performing loans
Blue Sky Uranium receives a ‘Buy’ rating as Fundamental Research kicks off coverage with a $0.47 per share fair value estimate
Anacortes Mining acquires Tres Cruces surface rights and drill data as option agreements with MBM terminate
One World Lithium updates on drilling progress at the Salar del Diablo lithium brine project
Falcon Gold reveals high grade gold results from summer exploration at Central Canada gold project in Ontario
ME2C Environmental (OTCQB:MEEC) set to report highest 3Q revenues in more than three years
PlantX Life says Bloombox Club subsidiary launches operations in Canada
Global Energy Metals strengthens ownership in Electric Royalties as it reports on creation of new 1% NSR on Norway nickel project
American Resources begins engineering and planning to restart its Wyoming County Coal mining complex in West Virginia
Nextleaf Solutions signs supply agreement with Quebec-based Medicibis for Glacial Gold vapes and distilled oils
Vyant Bio (NASDAQ:VYNT) forges partnership with MASORI Therapeutics to pursue co-development partnerships with pharma companies
Dalrada recognized as a top San Diego-based clean energy company
Standard Uranium (TSX-V:STND) strikes "milestone" engagement agreement with First Nations communities near its Sun Dog project in Saskatchewan
Phunwarecloses acquisition of privately-held Lyte Technology, Inc., a fast-growing provider of high-performance computer systems
Psyched Wellness (CSE:PSYC, OTCQB:PSYCF) says preliminary data reveals potential new functional property of Amanita mushroom for treating skin conditions
FSD Pharma (CSE:HUGE, NASDAQ:HUGE) strikes deal with Covar Pharmaceuticals to support the development of drug candidate Lucid-PSYCH
SoLVBL Solutions wins critical US patent for its flagship cryptographic cybersecurity product Q by SoLVBL
Plurilock Security achieves SOC 2 compliance for demonstrating effective security controls
Naturally Splendid set to roll out new plant-based food products to Canadian consumers
FPX Nickel says it has intersected one of the highest-grading nickel intervals in the history of the Decar Nickel District
Deepspatial secures strategic partnership with Staqo for global expansion
ImagineAR names NFL executive Rod Nenner as strategic advisor to target North American sports and brand partnerships
Mandalay Resources expects full-year consolidated saleable production to be at upper end as it posts 3Q numbers
Organic Garage (TSX-V:OG)'s Future of Cheese launches all-natural plant-based butter to retailers in Ontario
Heritage Cannabis announces joint venture supply and processing agreement with Noble Growth
Golden Minerals intersects high-grade gold at its Rodeo mine in Mexico
Victory Resources applies for drill permit for the Smokey lithium property in Nevada
AIM ImmunoTech submits IND and Fast Track applications for Phase 2 trial of Ampligen pancreatic cancer therapy
FansUnite appoints two trading managers to its sportsbook team
Royal Wins partners with Australia's leading blockchain games developer to enter booming NFT gaming market
New Pacific Metals (TSX:NUAG, NYSE:NEWP) says testing shows heap leach processing will be superior option for Silver Sand project
Maverix Metals increases its royalty interest in Russia's producing Omolon hub operation to 2.5%
Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) flags a strong end to the year as its business gains momentum
CLS Holdings (LSE:CLI) USA clocks up net revenue of $1.7M in September 2021 as it keeps a sharp lens on brand growth
Scottie Resources announces appointment of Lisa Peterson to the position of chief financial officer
Gatling Exploration (TSX-V:GTR, OTCQB:GATGF) arranges private placement to raise gross proceeds of up to $2.5 million
SpotLite360 IOT Solutions (CSE:LITE) appoints James Greenwell, its current president, as chief executive officer; adds new board member
9.45am: US stocks on front foot
US benchmarks started Tuesday on the front foot as traders cheered more strong third quarter corporate earnings.
The Dow Jones Industrial Average added over 112 points at 35,371 while the broader-based S&P 500 advanced over 16 points at 4,503.
The Nasdaq index was up around 54 points at 15,076 in early deals in New York.
According to one reported study earlier, as of Tuesday morning, 82% of S&P 500 companies, which have so far reported earnings have beaten expectations.
Today it was the turn of pharmaceuticals and consumer goods giant Johnson & Johnson (NYSE:JNJ), which beat third-quarter earnings expectations by 25 cents per share, though revenue fell slightly below.
Bank of New York Mellon (BK) also beat estimates, with quarterly earnings of $1.04 per share.
6.30am: US stocks seen opening higher
US stocks are expected to open firmer as investors anticipate third-quarter earnings reports from companies including Netflix, Johnson & Johnson (NYSE:JNJ) and Proctor and Gamble.
Futures for the Dow Jones Industrial Average futures gained 0.28% in Tuesday pre-market trading, while the broader S&P 500 index rose 0.36% and those for the tech-heavy Nasdaq 100 added 0.26%.
Stocks closed mostly higher on Monday, albeit with a small pullback by the blue-chip Dow, with excitement about Apple’s new product launches boosting tech shares.
At the close, the Dow yesterday had declined by 0.1% to 35,259, while the S&P 500 rose 0.34% to 4,486 and the Nasdaq Composite gained 0.84% to 15,022.
“It seems like solid corporate earnings have soothed concerns around inflationary pressures, with the improving risk sentiment elevating equity markets,” said Lukman Otunuga, senior research analyst at FXTM.
“This will a big week for equity markets as the third-quarter earnings season gets in full swing. Since corporate results officially kicked off last week, the reports have painted a positive picture with major US banks smashing analyst forecasts. Big names like Netflix, Tesla and Intel among many others will be under the spotlight this week as investors pay close attention to their earnings.”
The key questions on the minds of investors will be what impact higher inflation, supply chain disruptions and labour shortages have on third-quarter numbers, Otunuga added.
"Should we have another solid week of results, this may inject S&P 500 bulls with enough confidence to venture into uncharted territory beyond its all-time high," he concluded.