US open: Stocks higher ahead of tech earnings

23rd Jul 2024 16:33

(Sharecast News) - Wall Street stocks were in the green early on Tuesday as market participants looked ahead to a handful of big-name earnings reports after the close.

As of 1630 BST, the Dow Jones Industrial Average was up 0.11% at 40,459.79, while the S&P 500 advanced 0.30% to 5,581.28 and the Nasdaq Composite came out the gate 0.56% firmer at 18,108.63.

The Dow opened 44.35 points higher on Tuesday, extending gains recorded in the previous session.

Both Google parent company Alphabet and electric carmaker Tesla were slated to report earnings after the close of trading on Tuesday - Wall Street's first taste of major tech earnings so far this season.

Elsewhere, soft drinks giant Coca-Cola hiked its full-year guidance on the back of increased global demand throughout Q2, while cigarette maker Philip Morris reported a 34% jump in quarterly profits amidst an "outstanding" quarter in which revenues topped estimates.

On the macro front, existing home sales fell by 5.4% in June, according to the National Association of Realtors, hitting an annualised rate of 3.89m units, the sharpest monthly decline since 2022.

"We're seeing a slow shift from a seller's market to a buyer's market," said NAR chief economist Lawrence Yun. "Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis."

On another note, the Richmond Fed's manufacturing index declined for a second month in a row, hitting -17 in July for the lowest reading since May 2020, down from -10 in June and missing expectations of a slight improvement to -7.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Boeing Co. (BA) $183.54 2.59%

Goldman Sachs Group Inc. (GS) $493.13 1.25%

American Express Co. (AXP) $247.48 1.12%

Microsoft Corp. (MSFT) $447.77 1.09%

Coca-Cola Co. (KO) $65.36 0.90%

Salesforce.Com Inc. (CRM) $256.18 0.83%

Apple Inc. (AAPL) $225.77 0.81%

Travelers Company Inc. (TRV) $206.33 0.44%

Walmart Inc. (WMT) $70.44 0.09%

JP Morgan Chase & Co. (JPM) $210.38 0.05%

Dow Jones - Fallers

Walt Disney Co. (DIS) $91.50 -2.79%

Walgreens Boots Alliance, Inc. (WBA) $11.04 -2.30%

Chevron Corp. (CVX) $154.48 -1.60%

Johnson & Johnson (JNJ) $151.80 -1.58%

Dow Chemical Co. (DOW) $53.72 -1.29%

McDonald's Corp. (MCD) $256.69 -1.10%

Nike Inc. (NKE) $74.05 -1.08%

Intel Corp. (INTC) $33.01 -1.08%

Visa Inc. (V) $265.14 -0.96%

Unitedhealth Group Inc. (UNH) $555.10 -0.61%

S&P 500 - Risers

Msci Inc. (MSCI) $555.20 9.72%

Pentair plc (PNR) $86.72 8.42%

General Electric Co. (GE) $175.94 8.10%

Zions Bancorporation (ZION) $52.75 6.61%

Danaher Corp. (DHR) $267.23 6.51%

Carnival Corp. (CCL) $19.26 4.56%

Amazon.Com Inc. (AMZN) $189.19 3.64%

Sherwin-Williams Co. (SHW) $332.87 3.26%

Transdigm Group Inc. (TDG) $1,296.38 3.23%

Norwegian Cruise Line Holdings Ltd (NCLH) $20.36 3.22%

S&P 500 - Fallers

United Parcel Service Inc. (UPS) $125.81 -13.34%

Smith A O Corp. (AOS) $80.85 -8.97%

PACCAR Inc. (PCAR) $99.89 -8.40%

Comcast Corp. (CMCSA) $37.14 -6.05%

Mattel Inc. (MAT) $17.75 -4.95%

Quest Diagnostics (DGX) $140.98 -4.32%

Whirlpool Corp. (WHR) $101.72 -4.31%

Kimberly-Clark Corp. (KMB) $138.03 -4.24%

Harley-Davidson Inc. (HOG) $34.13 -3.41%

Centene Corp. (CNC) $63.98 -3.27%

Nasdaq 100 - Risers

Amazon.Com Inc. (AMZN) $189.19 3.64%

Sirius XM Holdings Inc (SIRI) $3.60 3.15%

Broadcom Inc. (AVGO) $164.78 2.31%

Meta Platforms Inc. (META) $493.04 1.16%

Microsoft Corp. (MSFT) $447.77 1.09%

Apple Inc. (AAPL) $225.77 0.81%

Take-Two Interactive Software Inc. (TTWO) $151.57 0.74%

Costco Wholesale Corp. (COST) $853.50 0.72%

Synopsys Inc. (SNPS) $591.61 0.66%

Autodesk Inc. (ADSK) $246.76 0.61%

Nasdaq 100 - Fallers

PACCAR Inc. (PCAR) $99.89 -8.40%

Comcast Corp. (CMCSA) $37.14 -6.05%

Texas Instruments Inc (TXN) $199.22 -3.23%

Trip.com Group Limited (TCOM) $45.81 -3.15%

Analog Devices Inc. (ADI) $232.71 -3.05%

Microchip Technology Inc. (MCHP) $90.42 -2.90%

JD.com, Inc. (JD) $26.09 -2.83%

Walgreens Boots Alliance, Inc. (WBA) $11.04 -2.30%

Hasbro Inc (HAS) $58.67 -1.97%

Gilead Sciences Inc. (GILD) $71.06 -1.86%