Wall Street extends rally boosted by upbeat earnings
|- Coca-Cola shares hit a record high following strong Q2 reports.
- United Technologies raises profit and sales outlook to boost industrials.
- Defensive sectors post small losses in early trade.
Major equity indexes in the United States started the day in the positive territory on Tuesday boosted by the strong second-quarter earnings figures and the upbeat market mood as reflected by sharp increases in global equity indexes. As of writing, the Dow Jones Industrial Average was up 0.35% on the day while the S&P 500 and the Nasdaq Composite were adding 0.3% and 0.25%, respectively.
Coca-Cola today reported better than expected quarterly earnings and raised its revenue forecast for the year of 2019. The drink-maker giant's shares rose to a record high and helped the S&P 500 Consumer Staples Index start the day on a positive note, which was last up 0.6% on the day.
Additionally, the United Technologies raised its profit and sales outlook, helping both the Industrials and the Materials Index outperform other major S&P 500 sectors. On the other hand, the defensive Real Estate and Utilities indexes are in the negative territory in the first half of the session to confirm the risk-on mood.
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