BUSINESS US stocks close higher

BUSINESS

US stocks close higher

Xinhua

06:49, October 27, 2021

NEW YORK, Oct. 26 (Xinhua) -- US stocks eked out modest gains on Tuesday, as investors parsed a slew of earnings reports.

The Dow Jones Industrial Average increased 15.73 points, or 0.04 percent, to 35,756.88. The S&P 500 was up 8.31 points, or 0.18 percent, to 4,574.79. The Nasdaq Composite Index rose 9.01 points, or 0.06 percent, to 15,235.71.

Nine of the 11 primary S&P 500 sectors ended in green, with energy up 0.68 percent, leading the gainers. The industrials and the communication services groups, however, struggled.

US-listed Chinese companies traded lower with all the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a downbeat note.

Shares of US social media giant Facebook dipped 3.9 percent after the company reported mixed third quarter earnings, which saw earnings top expectations and revenue miss estimates.

Microsoft shares edged higher in extended trading Tuesday after tech giant reported fiscal first-quarter earnings that exceeded analysts' estimates.

Google-parent Alphabet reported third-quarter results after Tuesday's close that exceeded Wall Street's expectations as the company saw a resurgence in its search business with travel activity ramping back up. The stock slipped in after-hours trading.

Apple and Amazon are also among the tech heavyweights slated to report this week.

Of the S&P 500 companies that have reported earnings by far, 83 percent beat expectations, according to figures from The Earnings Scout, a macroeconomic research firm that specializes in corporate earnings trends.


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