Navigation
Suscribe
Menu Search Facebook Twitter
Search Close
Menu ALL SECTIONS
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Digital
Prensa
Radio
TV
X
Newsletter
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers
Business

U.S. Stock Indexes Move Higher in Afternoon Trading; Oil Rises

Health care, phone companies and other high-dividend stocks were among the biggest laggards as bond yields rose

In this Tuesday, Oct. 25, 2016, file photo, a miniature reproduction of Arturo Di Modica's "Charging Bull" sculpture sits on display at a street vendor's table outside the New York Stock Exchange, in lower Manhattan, photo: AP/Mary Altaffer
11 months ago

Materials and financial companies led U.S. stock indexes higher in afternoon trading Tuesday as investors sized up the latest round of company earnings news. Energy stocks also rose as crude oil prices headed higher. Health care, phone companies and other high-dividend stocks were among the biggest laggards as bond yields rose.

KEEPING SCORE: The Dow Jones industrial average rose 90 points, or 0.5 percent, to 19,890 as of 12:41 p.m. Eastern Time. The Standard & Poor’s 500 index gained 10 points, or 0.4 percent, to 2,275. The Nasdaq composite index added 22 points, or 0.4 percent, to 5,575.

AUTOMAKERS: The heads of General Motors, Ford Motor and Fiat Chrysler Automobiles met with President Donald Trump early Tuesday. Trump wants the automakers to build new factories in the U.S. He’s warned of a “substantial border tax” on companies that move manufacturing out of the country and promised tax advantages to those that produce domestically. GM gained 51 cents, or 1.4 percent, to $37.17, while Ford added 23 cents, or 1.9 percent, to $12.55. Fiat Chrysler was up 56 cents, or 5.9 percent, to $10.12.

THE QUOTE: “They used to call some of this jawboning,” said David Winters, CEO of Wintergreen Advisers. “So, far President Trump has been encouraging companies to do what’s in his vision of a successful America. There’s a lot of enthusiasm, but it’s really going to be what happens in the next couple of months in terms of legislation so there’s clarity.”

MINE THIS: Freeport-McMoRan jumped 6.4 percent, one of the biggest gainers in the S&P 500 index. The mining company added $1 to $16.72.

HOME RUN: Several homebuilders were trading higher. D.R. Horton climbed 5.9 percent after the homebuilder delivered higher earnings as home closings and net home orders increased. The stock added $1.70 to $30.44. Lennar surged $2.50, or 5.7 percent, to $46.25. PulteGroup gained $1.06, or 5.5 percent, to $20.27.

GESUNDHEIT: Kimberly-Clark, which makes Kleenex and other paper products, rose 3.5 percent after reporting earnings that beat analysts’ forecasts. The stock gained $4.10 to $121.08.

MIXED RESULTS: Johnson & Johnson slid 2.2 percent after the company reported fourth-quarter results that edged Wall Street’s forecasts, but also issued a 2017 forecast that fell below what analysts were expecting. The maker of Band-Aids, medical devices and prescription drugs also said it would start seeking a possible sale, joint venture or operating partnerships for its diabetes care businesses. The stock shed $2.45 to $111.46.

HUNG UP: Verizon slumped 4.6 percent after the phone and communications company served up earnings for the last three months of 2016 that fell short of what analysts were expecting. The company, whose deal to buy Yahoo’s internet operations may be in jeopardy, also said that its roster of retail postpaid subscribers fell sharply. The stock fell the most among companies in the S&P 500, sliding $2.40 to $50.01.

MARKETS OVERSEAS: In Europe, Germany’s DAX was up 0.4 percent, while France’s CAC 40 was 0.2 percent higher. Britain’s FTSE 100 was flat after the Supreme Court said parliament would have a right to vote on whether Britain formally exits the European Union. The ruling doesn’t mean Britain will remain in the EU, but it could delay the process. In Asia, Japan’s benchmark Nikkei 225 slipped 0.6 percent, while Australia’s S&P/ASX 200 added 0.7 percent to 5,650.10. South Korea’s Kospi slipped 0.01 percent. Hong Kong’s Hang Seng gained 0.2 percent.

ENERGY: Benchmark U.S. crude was up 71 cents, or 1.3 percent, at $53.46 a barrel in New York. It fell 47 cents overnight. Brent crude, used to price international oils, was up 43 cents, or 0.8 percent, at $55.66 a barrel in London.

TREASURY YIELDS: Bond prices fell. The 10-year Treasury yield rose to 2.45 percent from 2.40 percent late Monday.

CURRENCIES: In currency markets, the dollar rose to 113.58 yen from 113 yen the previous day. The euro was increased to $1.0757 from $1.0746.

ALEX VEIGA

Comments Whatsapp Twitter Facebook Share
More From The News
Latest News

Democrat Jones wins stunning red-state A ...

2 days ago
Business

Asian stocks mixed ahead of Fed rate ann ...

2 days ago
Entertainment

NFL Network suspends analysts over sexua ...

3 days ago
Science

SpaceX delivery delayed few days; 1st re ...

3 days ago
Most Popular

French PM says Disputed Labour Bill Open ...

By The Associated Press
Business

Business Leaders Bullish About Long Term ...

By Lázaro González
Business

New Delivery App Rappi Says It's Not Sel ...

By Caitlin Donohue
Business

Power Lunch to Close

By The Associated Press
Business

Daily Exchange: Dollar Continues Descent ...

By Notimex
Business