Earnings Reports Send US Stocks Higher
Major U.S. stock markets made strong gains Tuesday as strong earnings reports encouraged investors.
The Dow Jones industrial average gained 547.87 points, or 2.2 percent, to close at 25,798.42. The Standard & Poor’s 500 rose 59.13 points, or 2.2 percent, to 2,809.92 with all 11 sectors finishing higher. The Nasdaq composite, home to many tech stocks, jumped 214.75 points, or 2.9 percent, to 7,645.49.
New U.S. economic data showing gains in job openings and industrial production also helped buoy prices.
Tuesday’s Dow gain marked a sharp turnaround from some recent trading sessions, when worries about rising interest rates sent stock market indexes down steeply.
Those concerns also pushed down the value of European stocks, but the major indexes in France, Germany and Britain also posted gains Tuesday.