Earnings gains drive stocks higher

The latest on developments in financial markets (all times local):

4 p.m.

Stocks are closing broadly higher on Wall Street as strong earnings reports from several U.S. companies put investors in a buying mood.

Estee Lauder jumped 11.6 percent and Ralph Lauren climbed 8.4 percent Tuesday. Both reported earnings that came in well ahead of what analysts were expecting.

Sign Up and Save

Get six months of free digital access to The Herald

#ReadLocal

Viacom, an entertainment company that owns Comedy Central and Paramount Pictures, rose 3 percent after reporting results that also beat analysts’ estimates.

The S&P 500 index rose 12 points, or 0.5 percent, to 2,737.

The Dow Jones Industrial Average climbed 172 points, or 0.7 percent, at 25,411. The Nasdaq added 54 points, or 0.7 percent, to 7,402.

Bond prices rose. The yield on the 10-year Treasury fell to 2.70 percent.

___

11:45 a.m.

Stocks are moving broadly higher in midday trading on Wall Street as investors welcomed some strong earnings reports from U.S. companies.

Estee Lauder jumped 12.2 percent and Ralph Lauren climbed 7.9 percent Tuesday. Both reported earnings that came in well ahead of what analysts were expecting.

Viacom, an entertainment company that owns Comedy Central and Paramount Pictures, rose 3.6 percent after reporting earnings that also beat analysts’ estimates.

The S&P 500 index rose 8 points, or 0.3 percent, to 2,733.

The Dow Jones Industrial Average climbed 146 points, or 0.6 percent, at 25,389. The Nasdaq added 44 points, or 0.6 percent, to 7,391.

Bond prices rose. The yield on the 10-year Treasury fell to 2.70 percent.

___

9:35 a.m.

Stocks are opening higher on Wall Street as investors welcomed some strong earnings reports from U.S. companies.

Estee Lauder

Read More Here...

Bookmark the permalink.