US stocks ended sharply higher Tuesday as investors welcomed a series of company earnings reports.
Johnson & Johnson reported second quarter earnings that beat analysts’ estimates, although it cut its full-year sales and profit outlook due to a stronger US dollar.
Netflix lost around 970,000 subscribers in the second quarter, fewer than the 2 million it had previously projected for the period. The company expects to add around 1 million net new subscribers in the third quarter.
The blue-chip Dow Jones Industrial Average soared 754.44 points, or 2.43% to 31,827.05.
The S&P 500 jumped by 105.84 points, or 2.76%, to 3,936.69.
The tech-heavy Nasdaq gained 353.10 points, or 3.11%, to 11,713.15.
The VIX volatility index, also known as the fear index, fell 3.16 to 24.5.
The 10-year US Treasury yield increased 2.31% to 3.028%.
The dollar index was down 0.64% to 106.54.
Precious metals declined, with gold losing 0.03% to $1,709.70 an ounce and silver falling 0.8% to $18.68.
Global benchmark Brent crude was at $107.30 per barrel, while US benchmark West Texas Intermediate (WTI) crude was at $100.40.
Source: Anadolu Agency