Sunday, April 14, 2024
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As a Result of Good Earnings, the Dow Closes 200 Points Higher to Halt a 4-Day Losing Run

Stocks increased Tuesday as traders kept an eye on recent changes in Treasury yields and investors concentrated on a new batch of earnings reports.

The Dow Jones Industrial Average increased by 204.97 points, or 0.62%, to finish the day at 33,141.38. The Nasdaq Composite gained 0.93% to close the session at 13,139.87, while the S&P 500 increased 0.73% to close at 4,247.68.

The stock of Coca-Cola increased 2.9% after the company reported earnings and revenue that beat expectations. In contrast, Spotify saw a 10% increase when the dominant audio streaming service revealed third-quarter results that exceeded forecasts.

Following the company’s withdrawal of its full-year forecast due to growing expenses brought on by the United Auto Workers union strikes, General Motors shares decreased by 2.3%. In fact, the automaker’s third-quarter earnings were stronger than anticipated.

Ones publishing earnings after the market closes include Alphabet and Microsoft. Amazon and Meta are two additional tech companies reporting this week.

Source (CNBC)

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