Wall Street stocks opened higher on Tuesday as more big-name US companies published their latest set of quarterly results.
As of 1530 BST, the Dow Jones Industrial Average was up 0.32% at 35,370.97, while the S&P 500 was 0.49% firmer at 4,508.45 and the Nasdaq Composite came out the gate 0.38% stronger at 15,079.50.
The Dow opened 112.36 points higher on Tuesday, reversing losses registered in the previous session as elevated bond yields and a weaker-than-expected Chinese GDP print soured sentiment.
Earnings were again in focus early on in the session, with drugmaker Johnson & Johnson posting adjusted earnings per share of $2.60 in pre-market and also upped its full-year forecast on the back of strong adoption of its Covid-19 vaccine, while Procter & Gamble topped estimates on the back of price hikes that offset certain costs but cautioned of more inflation to come.
BNY Mellon beat on third-quarter estimates thanks to improved fee income throughout the period and Halliburton reported a profit as structural global commodity tightness drove increased demand for its services, both internationally and domestically.
United Airlines and Netflix will report after the close.
On the macro front, US housing starts unexpectedly dropped in September, while permits fell to twelve month low amid serious shortages of raw materials and labour, indicating yet again that economic growth slowed sharply in the third quarter. According to the Census Bureau, housing starts declined 1.6% month-on-month after rising 1.2% in August, while building permits slumped 7.7% in September after rising 5.6% in the prior month.
Still to come, a raft of Federal Reserve members will deliver speeches today, starting with San Francisco president Mary Daly at 1600 BST and followed by Michelle Bowman at 1815 BST, Atlanta president Raphael Bostic at 1950 BST and Christopher Waller at 2000 BST.
Dow Jones – Risers
Travelers Company Inc. (TRV) $157.07 2.74%
Johnson & Johnson (JNJ) $163.74 2.26%
Merck & Co. Inc. (MRK) $78.61 1.89%
Walmart Inc. (WMT) $144.03 1.66%
Apple Inc. (AAPL) $148.42 1.28%
Intel Corp. (INTC) $55.05 1.06%
Chevron Corp. (CVX) $110.60 0.95%
Amgen Inc. (AMGN) $204.69 0.77%
Caterpillar Inc. (CAT) $199.70 0.77%
Visa Inc. (V) $232.32 0.72%
Dow Jones – Fallers
Procter & Gamble Co. (PG) $140.13 -1.55%
Walgreens Boots Alliance, Inc. (WBA) $47.86 -1.12%
Nike Inc. (NKE) $157.93 -0.94%
Goldman Sachs Group Inc. (GS) $410.30 -0.82%
International Business Machines Corporation (CDI) (IBM) $141.53 -0.56%
Boeing Co. (BA) $216.23 -0.35%
Walt Disney Co. (DIS) $170.98 -0.09%
Dow Chemical Co. (DOW) $58.90 -0.09%
Dowdupont Inc. (DWDP) $30.52 0.00%
Honeywell International Inc. (HON) $230.94 0.00%
S&P 500 – Risers
Dominion Energy Inc. (D) $74.53 3.57%
Intuitive Surgical Inc. (ISRG) $341.48 2.76%
Travelers Company Inc. (TRV) $157.07 2.74%
Boston Scientific Corp. (BSX) $43.80 2.34%
American Tower Corp (Reit) (AMT) $274.26 2.34%
Zimmer Biomet Holdings Inc (ZBH) $148.31 2.30%
Johnson & Johnson (JNJ) $163.74 2.26%
Anthem Inc (ANTM) $396.99 2.26%
Dover Corp. (DOV) $170.53 2.24%
Crown Castle International (CCI) $171.54 2.23%
S&P 500 – Fallers
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $382.37 -5.90%
Macy’s Inc. (M) $27.05 -4.25%
Arconic Inc. (ARNC) $30.27 -4.12%
Western Union Co. (WU) $20.67 -2.91%
Clorox Co. (CLX) $157.17 -2.11%
Bank Of New York Mellon Corp. (BK) $56.26 -2.00%
Halliburton Co. (HAL) $25.50 -1.96%
Estee Lauder Co. Inc. (EL) $312.32 -1.90%
Kroger Co. (KR) $38.49 -1.84%
Coty Inc. Class A (COTY) $7.58 -1.73%
Nasdaq 100 – Risers
Intuitive Surgical Inc. (ISRG) $341.48 2.76%
Liberty Global plc Series A (LBTYA) $29.73 1.82%
Liberty Global plc Series C (LBTYK) $29.82 1.81%
Vertex Pharmaceuticals Inc. (VRTX) $184.04 1.79%
Biomarin Pharmaceutical Inc. (BMRN) $75.22 1.77%
Baidu Inc. (BIDU) $174.04 1.75%
NetEase Inc. Ads (NTES) $99.57 1.71%
JD.com, Inc. (JD) $83.82 1.70%
Charter Communications Inc. (CHTR) $718.20 1.60%
Cerner Corp. (CERN) $71.22 1.57%
Nasdaq 100 – Fallers
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $382.37 -5.90%
Trip.com Group Limited (TCOM) $30.55 -3.99%
Seagate Technology Plc (STX) $80.10 -1.40%
Marriott International – Class A (MAR) $157.13 -1.31%
Xilinx Inc. (XLNX) $168.39 -1.17%
Walgreens Boots Alliance, Inc. (WBA) $47.86 -1.12%
Check Point Software Technologies Ltd. (CHKP) $119.21 -1.07%
Western Digital Corp. (WDC) $54.81 -1.06%
Ross Stores Inc. (ROST) $108.44 -0.97%
Booking Holdings Inc. (BKNG) $2,479.81 -0.89%
