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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)

SourceCNBC
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