Associated Press
- US stocks rose Tuesday as investors cheered strong earnings from top names like GE, Coca-Cola and 3M.
- Investors are also looking to Microsoft after the close on Tuesday, while Amazon and Meta will report later this week.
- Treasury yields also stabilized after surging above 5% on Monday.
US stocks moved higher Tuesday morning as earnings reports from companies such as General Electric, Coca-Cola, and Verizon came in strong.
Investors also gearing up for earnings from Microsoft after the close, while other tech giants, such as Amazon and Meta, report later this week.
Meanwhile, bond market turmoil eased with the 10-year Treasury yield hovering around 4.85% after punching past the 5% barrier on Monday.
Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:
- S&P 500: 4,247.41, up 0.72%
- Dow Jones Industrial Average: 33,155.32, up 0.66% (218.91 points)
- Nasdaq Composite: 13,124.48, up 0.82%
Here's what else happened today:
- 'Bond King' Bill Gross is gearing up for a 4th quarter recession with these investments.
- Investor complacency is the same as it was before the 2008 crash, David Rosenberg said.
- Weak earnings will hammer down the S&P 500 another 8% before the year ends, Mike Wilson warned.
- The benchmark index notched its longest losing streak of the year, as bond yields take a toll.
In commodities, bonds, and crypto:
- West Texas Intermediate crude oil slipped 0.46% to $85.42 a barrel. Brent crude, the international benchmark, dipped 0.23% to $89.85 a barrel.
- Gold fell 0.62% to $1,963.77 per ounce.
- The 10-year Treasury yield gained 1.2 basis points to 4.85% on Thursday.
- Bitcoin jumped 11% to $34,648.55.
Read the original article on Business Insider