(Sharecast News) - Major indices closed higher on Tuesday as investors looked past the latest developments in the Iran conflict and shifted focus back to a busy slate of corporate earnings.
At the close, the Dow Jones Industrial Average was up 0.74% at 52.224.64, while the S&P 500 advanced 0.89% to 7,509.20, and the Nasdaq Composite saw out the session 1.29% firmer at 25,837.21.
The Dow closed 385.38 points higher on Tuesday with traders weighing fresh escalations in the US-Iran conflict. US Central Command carried out its tenth straight night of strikes after Donald Trump declared the ceasefire "over", while Iranian forces targeted US military assets across the Middle East and Houthi allies announced a maritime embargo on Saudi Arabia.
Oil prices headed north despite reports of a renewed diplomatic push, with mediators said to be proposing a tenday ceasefire. West Texas Intermediate was last up 2.02% at $84.91 a barrel, while international benchmark Brent crude added 2.54% to $91.49 a barrel.
In terms of earnings, 3M traded higher after delivering strongerthanexpected secondquarter earnings, while General Motors advanced after beating estimates on the bottom line, DR Horton posted strongerthanexpected thirdquarter earnings, delivering, with revenue coming in slightly ahead of consensus at $9.2bn, and Northrop Grumman also beat expectations with its Q2 figures, reporting earnings per share of $7.68 versus $6.82 pencilled in by analysts.
Chubb reported increased Q2 profits, supported by solid underwriting and stronger investment returns, with demand for cover remaining firm as households and businesses sought protection from natural catastrophes, cyberattacks and other largeloss risks, while Capital One also delivered a betterthanexpected set of Q2 numbers, posting adjusted EPS of $5.81 against $4.69 forecast as revenue rose to $15.9bn, creditloss provisions eased and net chargeoffs improved, and Halliburton said Q2 revenues grew 3.7% yearonyear to $5.7bn, with net income up 12% at $538m and diluted earnings rising 16.4% to $0.64 per share.
Elsewhere in the corporate news, a US federal judge put a temporary halt on the proposed $110bn merger between Paramount Skydance and Warner Bros Discovery, issuing a 14day restraining order that prevents the companies from closing the deal or beginning integration. The move follows a lawsuit filed by 12 US states, including California and New York, arguing the tieup would weaken competition and ultimately raise costs for consumers.mProsecutors said combining two major studios risked "substantial harm" to cinemacable distributors and audiences nationwide.
No major data points were released on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
3M Co. (MMM) $170.76 7.32%
Intel Corp. (INTC) $105.45 4.94%
Unitedhealth Group Inc. (UNH) $436.35 3.51%
Caterpillar Inc. (CAT) $889.97 2.97%
Goldman Sachs Group Inc. (GS) $1,085.56 2.89%
JP Morgan Chase & Co. (JPM) $345.23 1.88%
Merck & Co. Inc. (MRK) $126.26 1.50%
Microsoft Corp. (MSFT) $397.75 1.45%
Johnson & Johnson (JNJ) $250.61 0.72%
Chevron Corp. (CVX) $191.07 0.72%
Dow Jones - Fallers
Boeing Co. (BA) $204.80 -2.23%
Salesforce.Com Inc. (CRM) $170.06 -2.15%
McDonald's Corp. (MCD) $263.91 -1.39%
Visa Inc. (V) $355.82 -1.32%
International Business Machines Corporation (CDI) (IBM) $210.50 -1.17%
Nike Inc. (NKE) $42.96 -1.17%
Apple Inc. (AAPL) $327.74 -0.82%
Procter & Gamble Co. (PG) $148.10 -0.69%
Amgen Inc. (AMGN) $366.24 -0.51%
Home Depot Inc. (HD) $331.60 -0.43%
S&P 500 - Risers
Western Digital Corp. (WDC) $548.39 8.97%
Micron Technology Inc. (MU) $970.82 8.26%
Hasbro Inc (HAS) $88.78 7.76%
Seagate Technology Plc (STX) $891.83 7.70%
3M Co. (MMM) $170.76 7.32%
Advance Auto Parts (AAP) $55.64 6.92%
Freeport-McMoRan Inc (FCX) $62.56 6.41%
Corning Inc. (GLW) $162.41 6.08%
CenturyLink Inc. (LUMN) $6.76 5.96%
Skyworks Solutions Inc. (SWKS) $62.95 5.51%
S&P 500 - Fallers
Danaher Corp. (DHR) $179.01 -10.99%
Msci Inc. (MSCI) $561.74 -10.14%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Affiliated Mgrs Group (AMG) $340.58 -6.98%
TripAdvisor Inc. (TRIP) $13.80 -6.82%
Halliburton Co. (HAL) $33.19 -5.47%
Sba Communications Corp. (SBAC) $176.82 -4.92%
VeriSign Inc. (VRSN) $266.15 -4.64%
Gartner Inc. (IT) $134.77 -4.46%
Zions Bancorporation (ZION) $69.05 -4.30%
Nasdaq 100 - Risers
Western Digital Corp. (WDC) $548.39 8.97%
Micron Technology Inc. (MU) $970.82 8.26%
Hasbro Inc (HAS) $88.78 7.76%
Seagate Technology Plc (STX) $891.83 7.70%
Skyworks Solutions Inc. (SWKS) $62.95 5.51%
Intel Corp. (INTC) $105.45 4.94%
O'Reilly Automotive Inc. (ORLY) $87.97 3.18%
Cadence Design Systems Inc. (CDNS) $344.64 3.09%
Illumina Inc. (ILMN) $192.53 2.85%
Intuit Inc. (INTU) $289.92 2.68%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Check Point Software Technologies Ltd. (CHKP) $130.46 -3.73%
NetEase Inc. Ads (NTES) $129.55 -3.64%
Alphabet Inc. Class C (GOOG) $346.19 -3.29%
Monster Beverage Corp (MNST) $94.46 -3.25%
Alphabet Inc. Class A (GOOGL) $347.15 -3.18%
Gilead Sciences Inc. (GILD) $130.28 -3.10%
Baidu Inc. (BIDU) $108.22 -2.79%
Automatic Data Processing Inc. (ADP) $246.22 -2.68%
Idexx Laboratories Inc. (IDXX) $552.46 -2.25%
61.15 (0.58%)
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