Stocks finished higher Tuesday. The Dow added 67 points to 26,452, while the S&P 500 was up a point to 2907. The Nasdaq Composite climbed 24 points to 8,000.
The major averages advanced as market participants digested another batch of corporate earnings reports. On the data front, a survey showed that U.S. industrial production unexpectedly declined 0.1% in March, amid a sharp drop in motor-vehicle output. A separate release from the NAHB revealed that sentiment among U.S. homebuilders climbed to a six-month high in April.
Seven of 11 S&P 500 sectors finished in positive territory as Financials paced the gains. Shares of BlackRock climbed 3.3% to $466.54 after the asset manager topped profit projections. Bank of America added 0.1% to $29.88 after the company posted a record profit but narrowly missed analyst revenue expectations. Health Care was the notable underperformer on the session. UnitedHealth Group dropped 4.0% to $220.96 as continued talk of a “Medicare for All” bill overshadowed quarterly results that beat analyst estimates. Johnson & Johnson gained 1.1% to $138.02 after topping Wall Street earnings forecasts. Shares of Qualcomm surged 23.2% to $70.45 following reports the IT company had settled an ongoing patent dispute with Apple.
Breadth was positive on issues by 9:8 on the NYSE and by 4:3 the Nasdaq. Composite NYSE volume totaled more than 3.3 billion shares.
Treasuries were weaker, with the yield on the 10-year note up three basis points to 2.59%. In commodities, WTI crude added 1.2% to $64.17/barrel. COMEX gold lost 1.1% to $1,272.60/ounce amid a stronger dollar.