Stocks finished higher Tuesday. The Dow added 112 points to 25299, while the S&P 500 advanced 18 points to 2839. The Nasdaq Composite gained 51 points to 7870.
The Dow and S&P 500 snapped four-day losing streaks as strong corporate earnings outweighed lingering geopolitical concerns. As second-quarter earnings season is nearing its conclusion, 79 percent of S&P 500 companies reporting results have beaten analysts’ estimates, according to Thomson Reuters. On the data front, an update revealed small business optimism unexpectedly increased in July, to the second-highest level on record. An additional update showed, import prices held steady in July, while export prices declined by 0.5% during the same period.
All 11 S&P 500 sectors finished higher on the session. Consumer Discretionary shares were up the most with Advance Auto Parts adding 7.8% to $156.13 as the company easily bested profit projections. Meanwhile, Home Depot fell 0.5% to $193.10 after the home improvement store stated higher transportation costs could impact future profit growth. Financials also outperformed as the group rebounded from Monday’s weakness which was attributed to concerns over Turkey’s ability to repay its debt.
Breadth was positive on issues by 7:2 on the NYSE and 7:4 on the Nasdaq. Composite NYSE volume was roughly 4.0 billion shares.
Treasuries were weaker along the curve as the yield on the benchmark 10-year note climbed two basis points to 2.89%. In commodities, WTI crude was up less than 0.1% to $67.22/barrel. COMEX gold advanced 0.1% to $1193.00 despite a stronger dollar.