Dow reclaims 27,000 JPMorgan, UnitedHealth power gains
U.S. stocks rallied on Tuesday helped by shares of JPMorgan which reported strong quarterly results-driven in part by a healthy U.S. consumer and UnitedHealth which raised its profit outlook.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 248.55 | +3.79 | +1.55% |
| UNH | UNITEDHEALTH GROUP INC. | 590.87 | -6.62 | -1.11% |
The combination helped the Dow Jones Industrial Average reclaim the 27,000 level last reached in September closing with a gain of over 237 points.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44529.03 | +232.52 | +0.52% |
| SP500 | S&P 500 | 5965.93 | -3.41 | -0.06% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18978.301855 | -25.35 | -0.13% |
Goldman Sachs, Wells Fargo and Citigroup also reported mixed results but ultimately ended the session with gains. The performance of the financials bodes well for the start of earnings season.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GS | THE GOLDMAN SACHS GROUP INC. | 602.78 | +6.67 | +1.12% |
| C | CITIGROUP INC. | 69.84 | +0.89 | +1.29% |
| WFC | WELLS FARGO & CO. | 75.96 | +1.13 | +1.51% |
Tomorrow, investors will get results from Netflix.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NFLX | NETFLIX INC. | 897.79 | +0.31 | +0.03% |
Outside of earnings, investor sentiment also got a boost after comments from Chinese officials that indicated the trade deal is on track for both sides.
"There is no difference," spokesman Geng Shuang said in remarks posted by China's government Tuesday, describing the parties as unanimous on a deal. "This economic and trade agreement will be of great significance, beneficial to China, the United States and the world."
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On Monday, some experts cautioned that expectations for the tentative agreement celebrated by the White House on Friday, which calls for Beijing to ramp up agricultural purchases to as much as $50 billion, may exceed the reality, the two governments insist they made legitimate progress.
In commodities, energy prices saw modest declines as did gold.
There was no economic data on Tuesday but tomorrow investors will closely eye retail sales, as well as the Fed's Beige Book and business inventories.
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The Associated Press and FOX Business' Ken Martin contributed to this article.