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US close: Major indices easily reverse Monday's losses as Q3 earnings season carries on

By Iain Gilbert

Date: Tuesday 19 Oct 2021

US close: Major indices easily reverse Monday's losses as Q3 earnings season carries on

(Sharecast News) - Wall Street stocks closed higher on Tuesday as more big-name US companies published their latest set of quarterly results.
At the close, the Dow Jones Industrial Average was up 0.56% at 35,457.31, while the S&P 500 was 0.74% firmer at 4,519.63 and the Nasdaq Composite saw out the session 0.71% stronger at 15,129.09.

The Dow closed 198.70 points higher on Tuesday, reversing losses registered in the previous session as elevated bond yields and a weaker-than-expected Chinese GDP print soured sentiment.

Earnings were again in focus throughout the session, with drugmaker Johnson & Johnson posting adjusted earnings per share of $2.60 in pre-market and also upped its full-year forecast on the back of strong adoption of its Covid-19 vaccine, while Procter & Gamble topped estimates on the back of price hikes that offset certain costs but cautioned of more inflation to come.

BNY Mellon beat on third-quarter estimates thanks to improved fee income throughout the period and Halliburton reported a profit as structural global commodity tightness drove increased demand for its services, both internationally and domestically.

Netflix reported after the close, publishing a solid beat on both earnings and new subscriber numbers.

On the macro front, US housing starts unexpectedly dropped in September, while permits fell to twelve month low amid serious shortages of raw materials and labour, indicating yet again that economic growth slowed sharply in the third quarter. According to the Census Bureau, housing starts declined 1.6% month-on-month after rising 1.2% in August, while building permits slumped 7.7% in September after rising 5.6% in the prior month.

Dow Jones - Risers

Merck & Co. Inc. (MRK) $79.49 3.03%
Johnson & Johnson (JNJ) $163.87 2.34%
Walmart Inc. (WMT) $144.69 2.12%
Chevron Corp. (CVX) $111.70 1.95%
Amgen Inc. (AMGN) $206.87 1.84%
Travelers Company Inc. (TRV) $155.39 1.64%
Apple Inc. (AAPL) $148.76 1.51%
Caterpillar Inc. (CAT) $201.14 1.49%
Intel Corp. (INTC) $55.21 1.36%
Visa Inc. (V) $233.52 1.24%

Dow Jones - Fallers

Procter & Gamble Co. (PG) $140.66 -1.18%
Nike Inc. (NKE) $157.82 -1.01%
Walgreens Boots Alliance, Inc. (WBA) $48.01 -0.81%
Boeing Co. (BA) $215.97 -0.47%
Goldman Sachs Group Inc. (GS) $412.16 -0.37%
International Business Machines Corporation (CDI) (IBM) $141.98 -0.24%
Unitedhealth Group Inc. (UNH) $424.38 -0.06%
Dowdupont Inc. (DWDP) $30.52 0.00%
Honeywell International Inc. (HON) $230.94 0.00%
Walt Disney Co. (DIS) $171.18 0.02%

S&P 500 - Risers

Fluor Corp. (FLR) $18.58 6.78%
Dominion Energy Inc. (D) $75.22 4.53%
Edwards Lifesciences Corp. (EW) $115.00 3.52%
Deere & Co. (DE) $343.09 3.39%
Stryker Corp. (SYK) $270.86 3.36%
Boston Scientific Corp. (BSX) $44.13 3.11%
Merck & Co. Inc. (MRK) $79.49 3.03%
Crown Castle International (CCI) $172.88 3.02%
PNC Financial Services Group (PNC) $206.83 2.98%
National Oilwell Varco Inc. (NOV) $15.35 2.81%

S&P 500 - Fallers

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $363.35 -10.58%
Macy's Inc. (M) $26.52 -6.12%
Western Union Co. (WU) $20.17 -5.26%
Arconic Inc. (ARNC) $30.19 -4.37%
Nordstrom Inc. (JWN) $28.60 -3.44%
Carnival Corp. (CCL) $22.34 -3.42%
Coty Inc. Class A (COTY) $7.47 -3.11%
Marriott International - Class A (MAR) $155.02 -2.63%
TripAdvisor Inc. (TRIP) $36.26 -2.58%
Federal Realty Inv Trust (FRT) $120.78 -2.37%

Nasdaq 100 - Risers

Baidu Inc. (BIDU) $179.00 4.65%
JD.com, Inc. (JD) $84.91 3.02%
Vertex Pharmaceuticals Inc. (VRTX) $185.41 2.55%
NetEase Inc. Ads (NTES) $100.34 2.49%
DENTSPLY Sirona Inc. (XRAY) $57.56 2.20%
Adobe Systems Inc. (ADBE) $636.37 2.17%
Skyworks Solutions Inc. (SWKS) $164.75 2.15%
Comcast Corp. (CMCSA) $54.25 1.94%
Analog Devices Inc. (ADI) $176.68 1.93%
QUALCOMM Inc. (QCOM) $132.52 1.84%

Nasdaq 100 - Fallers

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $363.35 -10.58%
Marriott International - Class A (MAR) $155.02 -2.63%
Expedia Group Inc. (EXPE) $166.00 -2.31%
Trip.com Group Limited (TCOM) $31.28 -1.70%
American Airlines Group (AAL) $19.53 -1.56%
Booking Holdings Inc. (BKNG) $2,465.53 -1.46%
Walgreens Boots Alliance, Inc. (WBA) $48.01 -0.81%
Ross Stores Inc. (ROST) $108.67 -0.76%
Dollar Tree Inc (DLTR) $100.27 -0.67%
Tesla Inc (TSLA) $864.27 -0.67%

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