Posted on 07/25/2017 7:57:44 AM PDT by Enlightened1
Caterpillar and McDonald's posted bottom line results that topped estimates, sending its shares higher.
This is the busiest week of the earnings season, with approximately 180 S&P 500 components scheduled to report.
Wall Street also set its sights on the Federal Reserve, as the central bank kicked off a two-day monetary policy meeting
The S&P 500 hit a record high shortly after the open, with financials and energy rising more than 1 percent to lead advancers. The Dow Jones industrial average rose 77 points, with Caterpillar and McDonald's contributing the most gains. The Nasdaq composite lagged, trading 0.1 percent lower as tech stocks slipped.
Caterpillar posted bottom line results that topped estimates, sending its shares higher.
"This is what the market needs to hear from industrial names coming in strong," said Quincy Krosby, chief market strategist at Prudential Financial. "This is the earnings week."
General Motors and McDonald's also saw their shares climb after reporting quarterly results. However, 3M posted weaker-than-expected results, sending the stock down 6 percent. Shares of 3M shaved off 83 points from the Dow.
This is the busiest week of the earnings season, with approximately 180 S&P 500 components scheduled to report. Boeing, Coca-Cola, Facebook and Amazon are set to report later this week.
(Excerpt) Read more at cnbc.com ...
Unexpected!
Exactly!
The Leftist media are hoping to talk down the economy in order to hurt President Trump.
Just the opposite is happening.
The Marx-stream media is deeply troubled by this.
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