Stock Market Overview
Stocks See Support as Bond Yields Fall and Earnings Impress
The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.13%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.01%.Â
US stock indexes settled mixed on Tuesday, with the S&P 500 posting a 3-week high and the Dow Jones Industrials posting a 4-week high. A decline in the 10-year T-note yield Tuesday to a 3-1/2 week low supported stocks. Also, expectations that the Fed will start cutting interest rates this year are a positive for stocks.Â
Corporate news Tuesday was mixed for stocks. On the positive side, FMC Corp rose more than +9% after forecasting full-year revenue above consensus. Also, GlobalFoundries closed up more than +6% after reporting Q1 adjusted EPS above consensus. In addition, International Paper rose more than +5% after Reuters reported that Suzano approached International Paper with an offer to buy the company for about $15 billion or $42 per share.Â
On the negative side, Builders First... Read more
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