S&P 500 flirts with record high on upbeat earnings

- The S&P 500 was within striking distance of its all-time high on Tuesday as better-than-expected results from Twitter and a host of industrial companies eased concerns about slowing corporate profits.

Twitter Inc shares surged 16.6%, touching a near nine-month high, after the social media company posted a better-than-expected quarterly revenue and a surprise rise in monthly active users. Profits at S&P 500 companies are expected to decline 1.3% in the first quarter, in what analysts say could be the first earnings contraction since 2016. However, forecasts have largely improved since the start of April.

At 11:32 a.m. ET, the Dow Jones Industrial Average was up 123.27 points, or 0.46%, at 26,634.32, the S&P 500 was up 20.88 points, or 0.72%, at 2,928.85 and the Nasdaq Composite was up 81.49 points, or 1.02%, at 8,096.75. Boosting the tech stocks, Qualcomm Inc jumped 5.1% after Morgan Stanley upgraded the chipmaker to “overweight” from “equal-weight”.Among decliners, Procter & Gamble Co fell 2.5% after its quarterly EBIT margin missed estimates, despite reporting better-than-expected quarterly results.Verizon Communications Inc dropped 2.2% after the U.S. wireless carrier lost more phone subscribers than analysts had expected.

And bitcoin is dead again

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street edges higher on generally positive earningsU.S. stocks ended slightly higher on Tuesday, with the S&P 500 inching closer to...
Source: Reuters - 🏆 2. / 97 Read more »

S&P 500 slips as health-care losses overshadow strong earnings and China growthPositive momentum early Wednesday faded throughout the day, with the Dow closing flat and the S&P 500 closing down 0.23%. Health care was the worst-performing sector.
Source: CNBC - 🏆 12. / 72 Read more »

S&P 500 heads for new record close after strong earnings from broad range of companiesThe S&P 500 headed for a record close as Wall Street cheered strong quarterly profits from some of the largest publicly traded U.S. companies. Manipulated stock market.rigged! god i hate all this good news coming from the Trump tax cuts!!!! when is Obama gonna pipe up and take credit? he tried to destroy our economy and did a dam fine job of it!!!
Source: CNBC - 🏆 12. / 72 Read more »