- US stock markets end higher again
- Financials only sector to post losses/li>
- Markets now preparing for latest earnings reports
Stock markets in the United States ended stronger for the fourth day in a row on Tuesday. The Dow Jones Industrial Average ended the day 0.6% or 143.07 points higher at 24,919.66, with the index delivering its first four-day increase in about a month.
The S&P 500, meanwhile, ended 0.4% or 9.67 points higher at 2,793.84. This was its best close in more than five months. The financials sector, which includes some of the largest banks, was the only one to end lower, at -0.4%.
The Nasdaq Composite Index managed to edge up 0.1% (3 points) to end the day at a rather lackluster 7,759.20.
On Monday, the Dow closed 320.11 points (1.3%) higher, while the Nasdaq Composite and S&P 500 each gained 0.9%.
The technology-laden Nasdaq and the S&P gained 12.4% and 4.5% YTD on Tuesday, while the blue-chip gauge managed to turn positive on Monday and ended yesterday 0.8% higher for the year to date.
The Russell 2000, which focuses on small-cap stocks, hit an intra-day high of 1,708.56 earlier yesterday, but at the end of trading, it was 0.6% lower at 1,694.13.
Recent economic reports have appeared to underscore the inherent strength of the American economy at a time when large numbers of investors are deeply worried about deteriorating relationships between the US and its largest trading partners.
Investors are now getting ready for a slew of quarterly earnings reports that are widely expected to highlight US business strength. PepsiCo Inc, for example, released an earnings report that beat expectations before markets opened yesterday. This caused its stock price to surge by 4.8%.
Citigroup Inc, JPMorgan Chase & Co, and Wells Fargo & Co will publish their results on Friday. The stock prices of all three banks dropped between 0.3% and 1% yesterday.
