Strong earnings reports Tuesday on Wall Street bolstered confidence in the rebounding US economy and fuelled a rise in major stock indices.
“The tide of rising earnings and improving economy is just more important than some of the late distractions,” David Kelly, chief market strategist for JP Morgan Funds, told the Bloomberg financial news agency.
The blue-chip Dow Jones Industrial Average added 25.01 points, or 0.23 percent, to 11,117.06. The broader Standard and Poor’s 500 Index rose 9.65 points, or 0.81 percent, to 1,207.17. The technology-heavy Nasdaq Composite Index gained 20.2 points, or 0.81
percent, to 2,500.31.
The US currency gained strength against the euro to 74.41 euro cents from 74.17 euro cents on Monday. The dollar soared against the Japanese currency to 93.23 yen from 92.4 yen.
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