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Stocks - Dow Rises on Strong Boeing Earnings Results

Published 10/24/2018, 09:42 AM
Updated 10/24/2018, 09:42 AM
© Reuters.  Wall Street was mixed on Wednesday.

Investing.com – The Dow opened higher on Wednesday as strong third-quarter results from Boeing (NYSE:BA) helped rally investor confidence, but the S&P 500 and Nasdaq remained lower.

The S&P 500 fell 2 points or 0.10% to 2,737.82 as of 9:40 AM ET (13:40 GMT), while the Dow increased 62 points, or 0.25%, to 25,253.67 and the tech-heavy Nasdaq Composite was down 18 points, or 0.26%, to 7,418.57.

All three indexes suffered from a sharp selloff on Tuesday after industrial giants Caterpillar (NYSE:CAT) and 3M (NYSE:MMM) reported a dismal outlook.

Boeing surged 2.78% after the company topped analysts’ forecasts on Wednesday for quarterly profit and raised its annual profit-per-share expectation. Meanwhile, United Parcel Service (NYSE:UPS) fell 3.16% after the midpoint of its forecast for full-year EPS settled below consensus and AT&T (NYSE:T) was down 4.55% after its earnings missed estimates.

Apple (NASDAQ:AAPL) inched up 0.26% amid news that it is planning to launch its upcoming TV subscription service in more than 100 countries, while Tesla (NASDAQ:TSLA) gained 1.25% ahead of its earnings release after the market closes.

Elsewhere, Facebook (NASDAQ:FB) dipped 0.11% while Microsoft (NASDAQ:MSFT) decreased 0.36% and Visa (NYSE:V) fell 0.37%.

In commodities, gold futures increased 0.06% to $1,234.20 a troy ounce while crude oil futures surged 1.31% to $67.30 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.45% to 96.14.

Latest comments

Dow rises not.....down 175 now I watch the stock market in an anemic slow bleed.
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