US close: Markets finish green as investors shift focus back to earnings
Wall Street trading ended on a positive note on Monday, as investors appeared to shrug off the latest trade rhetoric between the US and China and looked instead to the release of more corporate earnings.
Dow Jones I.A.
38,460.92
04:30 15/10/20
Nasdaq 100
17,526.80
12:15 24/04/24
The Dow Jones Industrial Average ended the day up 0.16% at 25,502.18, the S&P 500 added 0.35% to 2,850.40, and the Nasdaq 100 closed ahead 0.59% at 7,438.99.
Investors were earlier digesting the latest trade war rhetoric from Donald Trump over the weekend after he defended the use of tariffs at a rally in Ohio on Saturday and said he now has the upper hand over China.
In addition, Trump tweeted on Sunday that "tariffs are working big time".
On Friday, China unveiled plans to impose tariffs on $60bn worth of US imports in retaliation for the proposed increase in taxes to 25% from 10% on the $200bn of China goods bought by America every year.
“While this trade war appears be showing no signs of letting up, we have now seen the lion's share of all trade between the two countries targeted with tariffs,” said IG analyst Joshua Mahony.
“Soon enough, something must give, and with the Chinese exports to the US far outweighing imports, any such breakthrough is likely to come from the Chinese side.”
In corporate news, shares in Newell Brands were down 14.34% despite the company's second-quarter adjusted earnings beating analysts' expectations.
SeaWorld Entertainment shot up 16.88% after its quarterly revenue surpassed expectations, while Warren Buffett's Berkshire Hathaway gained 2.91% after posting a surge in second-quarter net earnings.
Sempra Energy dipped 1.23% in early trade after announcing it had swung to a loss in the second quarter, while electric car maker Tesla reversed earlier gains to drop 1.78% after solid quarterly earnings from last week.
Tyson Foods picked up 3.72% despite seeing a sales slump as a result of tariffs and auction house Sotheby's lost 5.63% after its earnings were hit by a shift in its sale schedule.
Dow Jones - Risers
Walt Disney Co. (DIS) $115.94 2.83%
Dowdupont Inc. (DWDP) $67.76 1.99%
Pfizer Inc. (PFE) $41.04 1.23%
Cisco Systems Inc. (CSCO) $43.30 1.10%
Caterpillar Inc. (CAT) $139.48 1.07%
Nike Inc. (NKE) $79.51 0.98%
Goldman Sachs Group Inc. (GS) $235.93 0.79%
Apple Inc. (AAPL) $209.07 0.52%
Merck & Co. Inc. (MRK) $66.22 0.44%
Chevron Corp. (CVX) $124.30 0.44%
Dow Jones - Fallers
International Business Machines Corp. (IBM) $146.03 -1.13%
Intel Corp. (INTC) $49.30 -0.66%
Boeing Co. (BA) $346.56 -0.54%
3M Co. (MMM) $206.71 -0.28%
Unitedhealth Group Inc. (UNH) $256.74 -0.18%
Visa Inc. (V) $139.71 -0.08%
Exxon Mobil Corp. (XOM) $80.18 -0.02%
Home Depot Inc. (HD) $195.69 0.03%
JP Morgan Chase & Co. (JPM) $117.12 0.03%
United Technologies Corp. (UTX) $133.94 0.04%
S&P 500 - Risers
Jacobs Engineering Group Inc. (JEC) $72.31 7.78%
Chesapeake Energy Corp. (CHK) $4.70 6.58%
Facebook Inc. (FB) $185.69 4.45%
PG&E Corp. (PCG) $44.58 3.77%
Tyson Foods Inc. (TSN) $59.64 3.27%
Chipotle Mexican Grill Inc. (CMG) $475.25 3.23%
Berkshire Hathaway Inc. Class B (BRK.B) $206.06 2.91%
Urban Outfitters Inc. (URBN) $46.00 2.89%
Walt Disney Co. (DIS) $115.94 2.83%
Teradata Corp. (TDC) $39.15 2.65%
S&P 500 - Fallers
Newell Brands Inc (NWL) $22.76 -14.34%
Praxair Inc. (PX) $157.97 -3.81%
Kraft Heinz Co. (KHC) $62.30 -3.38%
United States Steel Corp. (X) $31.49 -2.51%
Tapestry Inc. (TPR) $45.41 -2.41%
Freeport-McMoRan Inc (FCX) $15.40 -1.97%
Assurant Inc. (AIZ) $106.03 -1.95%
Kimco Realty Corp. (KIM) $16.77 -1.93%
Mylan Inc. (MYL) $37.73 -1.87%
Macerich Co (MAC) $59.40 -1.87%
Nasdaq 100 - Risers
T-Mobile Us, Inc. (TMUS) $66.30 7.72%
Dish Network Corp. (DISH) $36.20 5.85%
Facebook Inc. (FB) $185.69 4.45%
Wynn Resorts Ltd. (WYNN) $152.95 2.52%
Henry Schein Inc. (HSIC) $82.17 2.42%
Netflix Inc. (NFLX) $350.92 2.28%
Booking Holdings Inc. (BKNG) $2,075.85 2.27%
Workday, Inc. (WDAY) $131.55 1.85%
Autodesk Inc. (ADSK) $134.35 1.74%
Xilinx Inc. (XLNX) $73.12 1.74%
Nasdaq 100 - Fallers
Kraft Heinz Co. (KHC) $62.30 -3.38%
Incyte Corp. (INCY) $61.75 -2.05%
Mylan Inc. (MYL) $37.73 -1.87%
Tesla Inc (TSLA) $341.99 -1.77%
Take-Two Interactive Software Inc. (TTWO) $121.32 -1.69%
Biomarin Pharmaceutical Inc. (BMRN) $97.95 -1.53%
Electronic Arts Inc. (EA) $129.03 -1.41%
Celgene Corp. (CELG) $89.24 -1.33%
Regeneron Pharmaceuticals Inc. (REGN) $390.05 -1.22%
Charter Communications Inc. (CHTR) $300.00 -1.21%