Wall Street closed higher after Verizon $VZ and other big companies reported fatter profits for the summer than expected.
Wall Street closed higher after Verizon and other big companies reported fatter profits for the summer than expected
Wall Street closed higher after Verizon $VZ and other big companies reported fatter profits for the summer than expected.
The S&P 500 rose 0.7% Tuesday. The Dow added 204 points, and the Nasdaq $NDAQ composite climbed 0.9%.
The pace is picking up for profit reports, and the hope is that companies in the S&P 500 will report their first growth in a year. Such strength is crucial for the stock market, which has slumped under the weight of higher bond yields.
The 10-year Treasury yield slipped a day after reaching another 16-year high. Crude oil prices tumbled again.
On Tuesday:
The S&P 500 rose 30.64 points, or 0.7%, to 4,247.68.
The Dow Jones Industrial Average rose 204.97 points, or 0.6%, to 33,141.38.
The Nasdaq composite rose 121.55 points, or 0.9%, to 13,139.87
The Russell 2000 index of smaller companies rose 13.62 points, or 0.8% to 1,679.50.
For the week:
The S&P 500 is up 23.52 points, or 0.6%.
The Dow is up 14.10 points, less than 0.1%.
The Nasdaq is up 156.07 points, or 1.2%
The Russell 2000 is down 1.29 points, or 0.1%.
For the year:
The S&P 500 is up 408.18 points, or 10.6%.
The Dow is down 5.87 points, less than 0.1%.
The Nasdaq is up 2,673.39 points, or 25.5%
The Russell 2000 is down 81.74 points, or 4.6%.
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