US close: Markets higher as traders shrug off latest Trump rant
US stocks finished in the green on Tuesday, with the S&P near record highs as investors sifted through more earnings and brushed aside the latest trade war rhetoric from president Trump.
Dow Jones I.A.
38,424.79
04:30 15/10/20
Nasdaq 100
17,443.54
06:45 23/04/24
The Dow Jones Industrial Average ended the session up 0.5% at 25,628.91, the S&P 500 added 0.28% to 2,858.45, and the Nasdaq 100 rose 0.32% to 7,462.65.
“Confidence has returned as the S&P 500 moseys its way to towards the January record high and it remains encouraging to see stock markets hold their ground despite a drumbeat of trade war headlines of late,” said Chris Beauchamp, chief market analyst at IG, earlier.
“Earnings season is shaping up very well indeed, which accounts for why US equities remain comfortably ahead of the likes of Europe, but a rising tide lifts all boats and will reinforce the impression that this economic recovery and its associated bull market has further to run.”
Market participants appeared to largely shrug off Trump's latest Twitter tantrum.
A day after announcing the re-imposition of sanctions against Iran, Trump warned that anyone trading with the country would not do business with the US, as he claimed the sanctions were reinstated for the sake of world peace.
“The Iran sanctions have officially been cast,” he typed.
“These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level.
“Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less! [sic].”
Energy shares ratcheted up decent gains as oil prices rose on expectations that the US sanctions on Iran would squeeze supply, amid forecasts that supply losses could range from around 600,000 to 1.5m barrels per day.
Chevron and Exxon Mobil both traded higher, by 0.71% and 1.36% respectively.
On the data front, figures from the Department of Labor showed that US job openings in June nudged just a touch higher to 6.662 million in June, from 6.659 million the month before, beating expectations for a level of 6.646 million and marking third best level in history.
Meanwhile, the quits rate was unchanged at 2.3% for the fourth month in a row.
In individual corporate news, Office Depot surged 13.49% as its second-quarter earnings beat estimates, while Mallinckrodt rocketed 20.85% as the pharmaceutical products group posted better-than-expected second-quarter profit and sales and bumped up its full-year outlook.
On the downside, Spark Therapeutics tumbled 27.83% after the biotechnology company said a small trial for an experimental gene therapy treatment for haemophilia led to one person being hospitalised.
Dean Foods fell 15.1% after the food and drink company cut its full-year profit outlook and Zillow Group was 16.27 lower after its second-quarter earnings late on Tuesday disappointed, and the company announced the acquisition of a mortgage lender.
Dow Jones - Risers
Caterpillar Inc. (CAT) $142.38 2.08%
Exxon Mobil Corp. (XOM) $81.28 1.36%
Nike Inc. (NKE) $80.53 1.28%
Boeing Co. (BA) $350.76 1.21%
American Express Co. (AXP) $101.97 1.04%
3M Co. (MMM) $208.58 0.91%
Intel Corp. (INTC) $49.70 0.81%
Goldman Sachs Group Inc. (GS) $237.83 0.81%
Chevron Corp. (CVX) $125.18 0.71%
Home Depot Inc. (HD) $197.07 0.69%
Dow Jones - Fallers
Apple Inc. (AAPL) $207.11 -0.94%
Walgreens Boots Alliance, Inc. (WBA) $67.05 -0.55%
Pfizer Inc. (PFE) $40.85 -0.45%
McDonald's Corp. (MCD) $156.04 -0.43%
Johnson & Johnson (JNJ) $131.44 -0.42%
Coca-Cola Co. (KO) $46.50 -0.32%
Travelers Company Inc. (TRV) $129.94 -0.05%
Verizon Communications Inc. (VZ) $52.47 -0.02%
Walmart Inc. (WMT) $89.77 0.11%
Procter & Gamble Co. (PG) $82.64 0.15%
S&P 500 - Risers
Mallinckrodt Plc Ordinary Shares (MNK) $29.44 20.90%
Mosaic Company (MOS) $31.70 5.32%
Endo International Plc (ENDP) $12.65 4.29%
Emerson Electric Co. (EMR) $74.65 4.23%
Southwestern Energy Co. (SWN) $5.32 2.90%
Express Scripts Holding Co (ESRX) $78.95 2.76%
NRG Energy Inc. (NRG) $34.21 2.70%
Biogen Inc (BIIB) $350.10 2.62%
Cimarex Energy Co (XEC) $97.34 2.42%
Lennar Corp. Class A (LEN) $53.01 2.41%
S&P 500 - Fallers
DENTSPLY Sirona Inc. (XRAY) $39.40 -18.65%
Tenet Healthcare Corp. (THC) $32.38 -15.93%
Patterson Companies Inc. (PDCO) $22.63 -9.46%
Frontier Communications Co. (FTR) $5.10 -6.25%
Expeditors International Of Washington Inc. (EXPD) $72.93 -5.88%
Anadarko Petroleum Corp. (APC) $64.54 -5.48%
SCANA Corp. (SCG) $40.02 -5.12%
Discovery Inc. Class A (DISCA) $25.55 -5.09%
Sealed Air Corp. (SEE) $41.00 -5.07%
Newell Brands Inc (NWL) $21.68 -4.75%
Nasdaq 100 - Risers
Tesla Inc (TSLA) $379.57 10.99%
Biomarin Pharmaceutical Inc. (BMRN) $105.72 7.93%
Express Scripts Holding Co (ESRX) $78.95 2.76%
Biogen Inc (BIIB) $350.10 2.62%
Texas Instruments Inc (TXN) $115.76 2.34%
Dollar Tree Inc (DLTR) $92.88 2.30%
Mylan Inc. (MYL) $38.54 2.15%
Incyte Corp. (INCY) $63.01 2.04%
Microchip Technology Inc. (MCHP) $97.26 1.74%
Automatic Data Processing Inc. (ADP) $137.91 1.73%
Nasdaq 100 - Fallers
DENTSPLY Sirona Inc. (XRAY) $39.40 -18.65%
Marriott International - Class A (MAR) $124.43 -3.75%
Henry Schein Inc. (HSIC) $79.80 -2.88%
Baidu Inc. (BIDU) $226.67 -2.70%
Cerner Corp. (CERN) $65.95 -1.68%
Kraft Heinz Co. (KHC) $61.32 -1.57%
T-Mobile Us, Inc. (TMUS) $65.33 -1.46%
Lam Research Corp. (LRCX) $185.91 -1.27%
Align Technology Inc. (ALGN) $365.58 -1.07%
Facebook Inc. (FB) $183.81 -1.01%