Stocks edge higher on Wall Street a day after a big stumble
NEW YORK (AP) — Stocks edged higher in morning trading on Wall Street Tuesday, but remain in the red for the week following the biggest pullback in the SP 500 since mid-June. The SP 500 rose 0.3% as of 10:29 a.m. Eastern. The benchmark index is down 1.8% for the week following a sell-off on Monday. The Dow Jones Industrial Average slipped 13 points, less than 0.1%, to 33,047 and the Nasdaq rose 0.4%. Energy stocks made solid gains as U.S. crude oil prices rose 3%. Exxon Mobil gained 4%. Health care stocks fell broadly and checked gains elsewhere in the market. Eli Lilly fell 2.1%. Investors had several earnings reports to focus on as the latest round of corporate financial results comes to a close. More than 95% of companies in the SP 500 have reported earnings, with overall growth of about 6%, according to FactSet. Macy’s rose 7.7% after beating Wall Street''s second-quarter financial forecasts and J.M. Smucker gained 1% after reporting strong earnings. Zoom Video slumped 12.2% after cutting its profit and revenue forecasts for the year.
Stocks edge higher on Wall Street a day after a big stumble
NEW YORK (AP) — Stocks edged higher in morning trading on Wall Street Tuesday, but remain in the red for the week following the biggest pullback in the SP 500 since mid-June. The SP 500 rose 0.3% as of 10:29 a.m. Eastern. The benchmark index is down 1.8% for the week following a sell-off on Monday. The Dow Jones Industrial Average slipped 13 points, less than 0.1%, to 33,047 and the Nasdaq rose 0.4%. Energy stocks made solid gains as U.S. crude oil prices rose 3%. Exxon Mobil gained 4%. Health care stocks fell broadly and checked gains elsewhere in the market. Eli Lilly fell 2.1%. Investors had several earnings reports to focus on as the latest round of corporate financial results comes to a close. More than 95% of companies in the SP 500 have reported earnings, with overall growth of about 6%, according to FactSet. Macy’s rose 7.7% after beating Wall Street''s second-quarter financial forecasts and J.M. Smucker gained 1% after reporting strong earnings. Zoom Video slumped 12.2% after cutting its profit and revenue forecasts for the year.