Dow Fights to End 6-Day Skid
April 16,2024 10:12 am EST
The Dow Jones Industrial Average edged higher on Tuesday, as the blue-chip average attempted to snap a six-day losing streak.
The Dow recovered 114.47 points to open Tuesday at 37,849.58.
The S&P 500 index fell back 3.75 points to 5,057.63.
The NASDAQ inched up 4.13 points to 15,889.15.
UnitedHealth shares rallied more than 6% on the back of better-than-expected revenue for the first quarter. But Johnson & Johnson, another Dow member, posted mixed quarterly results, sending shares down almost 2%.
Morgan Stanley advanced more than 2% after beating analyst consensus forecasts on both lines. Bank of America also topped expectations for the quarter, but shares slipped around 3%.
America's largest companies have given Wall Street reason for optimism in the early innings of the new corporate earnings season. Of the less than 10% of S&P 500-listed firms that have reported financials, nearly four of of every five have exceeded Wall Street consensus. estimates
Prices for the 10-year Treasury tumbled, raising yields to 4.68% from Monday's 4.62%. Treasury prices and yields move in opposite directions.
Oil prices subtracted 19 cents to $85.22 U.S. a barrel.
Gold prices moved mildly ahead, 70 cents, to $2,383.70 U.S. an ounce.
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