Industrial and technology companies led U.S. stocks modestly higher in early trading Tuesday as indexes bounced back from small losses the day before. Energy stocks lagged the most as the price of crude oil headed lower. Investors were sizing up earnings reports from General Motors, Michael Kors and other big companies.
The Dow Jones industrial average climbed 81 points, or 0.4%, to 20,134 as of 10:09 a.m. Eastern time. The Standard & Poor’s 500 index rose 5 points, or 0.2%, to 2,298. The Nasdaq composite index advanced 18 points, or 0.3%, to 5,682. The Dow and Nasdaq were trading above their latest all-time highs.
NOT A SHOCK: Emerson Electric surged 5.6% to $63.19 after posting better-than-expected fiscal first-quarter earnings and sales. The company, which makes process controls systems, valves and analytical instruments, also raised its estimates for the rest of the year.
HEALTHY QUARTER: Centene climbed 6.9% to $68.05 after the health insurer’s latest quarterly snapshot exceeded Wall Street’s estimates.
UNFASHIONABLE RESULTS: Michael Kors slumped 14.2% to $35.42 after the luxury retailer reported lower fiscal third-quarter earnings and sales. The company also gave weak guidance for the current quarter and cut its estimates for the year.
DRIVE MY CAR: General Motors fell 4.5% to $35.17 after the automaker said its earnings declined in the fourth quarter as costs increased.
ROUGH RIDE: YRC Worldwide was down 8.5% to $13.75 after the trucking company reported a weak revenue measure.
MARKETS OVERSEAS: In Europe, Germany’s DAX index was up 0.7%, while France’s CAC 40 was down 0.1%. The FTSE 100 index of leading British shares was up 0.7%. Meanwhile, Tokyo’s Nikkei 225 index lost 0.4%, while Sydney’s S&P-ASX 200 rose 0.1%. Seoul’s Kospi slid 0.1%, and India’s Sensex shed 0.6%.
TREASURY YIELDS: Bond prices fell. The 10-year Treasury yield rose to 2.42% from 2.41% late Monday.
ENERGY: Benchmark U.S. crude was down 78 cents, or 1.5%, at $52.23 a barrel in New York. Brent crude, which is used to price international oils, was off 73 cents, or 1.3%, at $54.99 in London.
CURRENCIES: The dollar rose to 112.27 yen from 111.83 on Monday. The euro fell to $1.0680 from $1.0748.
Trump’s travel ban is likely to head to the Supreme Court, the most controversial ad of the Super Bowl, California’s gearing up to fight the Zika virus, and prosecutors have charged an L.A. County jail guard with assault.
Trump’s travel ban is likely to head to the Supreme Court, the most controversial ad of the Super Bowl, California’s gearing up to fight the Zika virus, and prosecutors have charged an L.A. County jail guard with assault.
Trump’s travel ban is likely to head to the Supreme Court, the most controversial ad of the Super Bowl, California’s gearing up to fight the Zika virus, and prosecutors have charged an L.A. County jail guard with assault.
Trump’s travel ban is likely to head to the Supreme Court, the most controversial ad of the Super Bowl, California’s gearing up to fight the Zika virus, and prosecutors have charged an L.A. County jail guard with assault.
Abdullah Al-Rifaie, an Iraqi student, gains U.S. reentry after the court stay of President Trump’s travel ban from seven Middle Eastern, predominantly Muslim countries.
Abdullah Al-Rifaie, an Iraqi student, gains U.S. reentry after the court stay of President Trump’s travel ban from seven Middle Eastern, predominantly Muslim countries.
Black holes are extremely compact and dense, generating incredibly powerful gravitational forces. Here is a quick look at at XJ1500+0154 from the Chandra X-ray Observatory.
Black holes are extremely compact and dense, generating incredibly powerful gravitational forces. Here is a quick look at at XJ1500+0154 from the Chandra X-ray Observatory.
Jarin Islam of the Wilshire Center-Koreatown Neighborhood Council joins other community advocates and leaders for a news conference and solidarity rally with the Muslim community of Los Angeles.
Jarin Islam of the Wilshire Center-Koreatown Neighborhood Council joins other community advocates and leaders for a news conference and solidarity rally with the Muslim community of Los Angeles.
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UPDATES:
7:45 a.m.: This article was updated with market prices and context.
This article was originally published at 6:55 a.m.
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