Wall Street closes at record highs on strong earnings reports

Upbeat earnings reports keep leading the way higher.
Political jitters weighed, rumors GOP Senators won't support a tax reform.

Valeria Bednarik FXStreet

US indexes revert Monday's loses and rallied to record highs this Tuesday with the DJIA up by 167 points, to end at 23,441,83, amid strong earnings reports. The Nasdaq Composite added 11 points, and closed at 6,598.43, while the S&P gained 0.16%, to end at 2,569.13. The indexes retreated in the last hour of trading, dented by political headlines coming from the US, as there were some market talks indicating that at least three GOP Senators won't support the tax reform. Within the Dow, 3M led advancers, adding 6.54%, after the company said that investments in higher-growth technology sectors are bringing results. Caterpillar followed, up 3.89% after the construction and mining heavy equipment maker earned $1.77 per share on revenue of $11.4 billion, a whopping 25% jump in market revenue. Caterpillar also indicated that it expects full-year 2017 adjusted EPS of $6.25 on revenue of about $44 billion. IBM on the other hand, was the worst performer, ending the day 2.38% lower, followed by General Electric that lost 2.28%.

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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