While the dollar fell against most of its peers, the Dow Jones Industrial Average advanced to 21,578.52, the S&P 500 index rose to 2,466.56 and the Nasdaq Composite jumped to 6,365.5. The yield on 10-year U.S. Treasury Notes is 2.263%.
With the three indexes slightly in the green, investors received quarterly results from several companies this morning.
Morgan Stanley (MS, Financial) shares were up in pre-market trading as the company reported better-than-expected earnings for its second quarter. EPS of 87 cents beat expectations by 11 cents and revenue of $9.51 billion beat estimates by $420 million.
Textron Inc. (TXT, Financial) shares rose in pre-market trading as the company reported second-quarter EPS of 60 cents on revenue of $3.6 billion. Sales increased by 2.6% year over year, helping Textron beat analyst profit expectations by five cents per share and revenue estimates by $30 million.
On the other hand, shares of United Continental Holdings Inc. (UAL, Financial) fell in pre-market trading despite the company reporting better-than-expected earnings and revenues. EPS of $2.75 beat by 12 cents while revenue of $10 billion beat by $50 million.
Top gainers
TripAdvisor Inc.”‹ (TRIP, Financial), Textron, W.W. Grainger Inc. (GWW, Financial), Cabot Oil & Gas Corp. (COG, Financial) and Autodesk Inc. (ADSK, Financial).
Top losers
Northern Trust Corp. (NTRS, Financial), United Continental, International Business Machines (IBM, Financial), Broadcom Ltd. (AVGO, Financial) and Delta Air Lines Inc. (DAL).
Europe
The European stock exchanges traded in green waiting for a meeting of the European Central Bank (ECB) on Thursday. The FTSE 100, DAX, CAC 40 and IBEX 35 closed down around 0.42%, 0.04%, 0.35% and -0.11%, respectively.
Disclosure: The author holds no position in any stock mentioned.
