Economy

How major U.S. stock indexes fared on Tuesday

How major U.S. stock indexes fared on Tuesday”

USA stocks inched ahead on Tuesday after the makers of Kellogg's cereal and Oreo cookies joined the parade of companies reporting stronger-than-expected profits. It measures the daily stock price movements of 30 large, publicly-owned US companies.

STOCKS ABROAD: The French CAC 40 rose 0.2 percent, and the FTSE 100 in London rose 0.1 percent.

"Armenpress" reports the value of Dow Jones up by 0.12% to 23377.24 points, S&P 500 up by 0.09% to 2575.26 points, Nasdaq up by 0.43% to 6727.67 points.

More attention is on President Donald Trump's choice for the next chairman of the Federal Reserve.

BUSY WEEK AHEAD: Besides the central-bank decisions on interest rates and the expected announcement of the next Fed chair, investors are also looking for an update on progress toward Washington's attempts to cut income-tax rates.

"The macro data is getting better, the market is prepared for Jerome Powell, the market is also prepared for Friday's payrolls".

"I don't think there is anything out there that could derail the market from a point of view it doesn't already expect".

Third-quarter earnings in general have come in modestly above expectations.

The S&P;s consumer staples sector (+0.8%) topped today's leaderboard as Mondelez and Kellogg jumped 5.4% and 6.2%, respectively, after reporting better than expected earnings and revenues.

"It's been a fantastic earnings season", said JJ Kinahan, chief market strategist at TD Ameritrade.

But not all reports have earned a positive stock reaction.

The Nasdaq is up 26.41 points, or 0.4 percent.

Under Armour (UAA.N) slumped 23.7 percent after the sportswear company slashed 2017 forecasts.

Mondelez International gained $2.37, or 6 percent, to $41.67 after it reported revenue gains in Latin America, Europe and North America. Rockwell Automation jumped $13.82, or 7.4 percent, to $200.82. The automation equipment maker said it had rejected an unsolicited acquisition bid from rival Emerson Electric (EMR.N) for more than $27 billion.

U.S. Treasury prices finished slightly lower, with the yield on the benchmark 10-year note adding a basis point to 2.38% and the two-year yield jumping 3 bps to 1.59%.

About 6.8 billion shares changed hands in USA exchanges, above the 6.1 billion daily average over the last 20 sessions.



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