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Wall St edges up as earnings season gains speed

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U.S. stocks edged up on Tuesday to push the S&P 500 to a new high as investors digested a batch of corporate profit results, including Johnson & ...

NEW YORK: U.S. stocks edged up on Tuesday to push the S&P 500 to a new high as investors digested a batch of corporate profit results, including Johnson & Johnson's strong profit forecast and 3M's quarterly profit beat as the pace of earnings season picks up.

Still, some companies showed the toll the pandemic has had on their businesses. American Express Co fell 3.78per cent after it posted a 15per cent drop in quarterly profit as pandemic-led lockdowns and business restrictions kept the credit card issuer's members from traveling and dining out. The Dow Jones Industrial Average rose 8.29 points, or 0.03per cent, to 30,968.29, the S&P 500 lost 0.86 points, or 0.02per cent, to 3,854.5 and the Nasdaq Composite added 8.94 points, or 0.07per cent, to 13,644.94.

Progress in stimulus talks is in focus, with U.S. Senate Majority Leader Chuck Schumer saying Democrats will move forward on President Joe Biden's coronavirus relief plan without Republican support if necessary.

 

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