Stocks rise broadly with earnings in view; indexes set for 4th straight positive month

U.S. stocks rose on Tuesday, with major indexes rebounding from recent weakness as corporate earnings continued to come in strong.

The Dow Jones Industrial Average rose 123 points, or 0.5%, to 24,431. The S&P 500 added 13 points to 2,816, a gain of 0.5%. The Nasdaq Composite Index was up 39 points, or 0.5%, to 7,669. Both the S&P and the Nasdaq are aiming to end a three-day losing streak, while the Dow has posted two consecutive losing sessions.

The day’s gains were broad-based, with nine of the 11 primary S&P 500 sectors higher. Among the top-performing sectors were industrials, which rose 1.8%, and health care, up 1%.

With Tuesday marking the final trading session for July, the Dow is posting a 4.8% monthly gain, while the S&P and Nasdaq have tacked on 3.6% and 2.1%, respectively. Both the S&P and the Nasdaq are poised for their fourth straight monthly gain.

Source: Marketwatch

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Stocks pop at the open, and the Nasdaq tries to bounce off the mat after a 3-session drubbing

The Nasdaq Composite Index on Tuesday opened firmly higher Tuesday, as the technology-laden benchmark attempted to shake off three straight sessions of sharp losses sparked by disappointing quarterly updates from some of the most popular tech and internet-related companies.

The Nasdaq was up 0.7% at 7,683, the S&P 500 index rose 0.4% at 2,813, while the Dow Jones Industrial Average climbed 90 points, or 0.4%, at 25,398.

Tuesday’s early trading action comes after the Nasdaq put in its third straight drop, underpinned by weaker-than-expected outlooks and results from Netflix Inc. and Facebook Inc. with shares of both companies falling into bear-market territory, defined as a drop of at least 20% from a recent peak. That unraveling has rattled confidence in the so-called FAANG stocks, which includes Facebook, Inc. Apple Inc. Netflix and Google-parent Alphabet Inc. which have helped to drive the overall market higher.

Apple is slated to report its quarterly results after the end of regular trade Tuesday and investors are hoping that the Cupertino, Calif.-based iPhone maker will be able to drive the tech and internet-sector from out of its recent doldrums. Wall Street also will watch the start of the Federal Reserve’s two-day policy meeting, which kicks of later in the session. Investors also bought government bonds, as the Bank of Japan announced it would keep its ultra-easy monetary policy in place.

Source : Marketwatch

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US Spy Agencies Say North Korea Building New Missiles

The Washington Post is reporting that U.S. spy agencies are seeing indications that North Korea is constructing new missiles.

The paper says intelligence officials, speaking on the condition of anonymity, say North Korea is likely constructing at least one and possibly two missiles at a large research facility in Sanumdong.

The Post says new evidence, including satellite photographs, indicate the missiles are liquid-fueled intercontinental ballistic missiles and are being constructed at a factory that produced North Korea’s first such missile capable of reaching the United States.

The paper says the new intelligence does not indicate that North Korea has expanded it capabilities, but rather that it is continuing to work on advanced weapons in the weeks following the Singapore summit between U.S. President Donald Trump and North Korean leader Kim Jong Un.

Intelligence officials told the Post that while operations continue at the Sanumdong plant, work has come to a halt at the Sohae Satellite Launching Station on North Korea’s northwest coast, where workers can be observed dismantling an engine test stand.

The paper, however, said many analysts and independent experts see the dismantling at Sohae as largely symbolic, and say the test stand could easily be rebuilt within months.

Source : voanews

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