US close: Stocks register solid gains in first session back from Easter break
Wall Street stocks closed higher on Tuesday as market participants waded through a number of corporate earnings.
At the close, the Dow Jones Industrial Average was up 1.45% at 34,911.20, while the S&P 500 was 1.61% firmer at 4,462.21 and the Nasdaq Composite saw out the session 2.15% stronger at 13,619.66.
The Dow closed 314.03 points higher on Tuesday, easily erasing losses recorded in the final session ahead of the Easter long weekend.
In the corporate space, Johnson & Johnson posted some mixed quarterly earnings prior to the open, with earnings per share topping expectations despite revenues falling short. The pharma giant also downgraded earnings guidance for 2022.
Toymaker Hasbro reported weaker-than-expected quarterly profits, even as revenues came in bang in line with estimates, while aerospace giant Lockheed Martin reported earnings that beat expectations but sales that missed as Russia's invasion of neighbouring Ukraine lifted defence outfits.
Halliburton also came in ahead of estimates with its quarterly earnings, reporting EPS of $0.35 as demand boomed amid the conflict in Eastern Europe, while Netflix shares nosedived after the streaming giant posted a decline in subscribers for the first time in over ten years.
On the macro front, US housing starts unexpectedly edged 0.3% higher to a seasonally adjusted annualised rate of 1.793m in March - the highest since June 2006. March's reading from the Census Bureau, which beat market forecasts of 1.745m, came alongside an upwardly revised figure for February, which was raised to 1.788m from an initial of 1.769m.
Elsewhere, building permits increased 0.4% month-on-month to 1.873m, also above market expectations for a reading of 1.825m. Authorisations for buildings with five units or more surged 10.9% to 672,000, while those for single-family declined 4.8% to a rate of 1.14m.
Also in focus was news that the International Monetary Fund had cut its global growth projections for both 2022 and 2023 to 3.6%, stating that the economic hit from Russia's unprovoked invasion of Ukraine will "propagate far and wide". The downward revision represented a 0.8 and 0.2 percentage point drop from its previous estimates, respectively.
Dow Jones - Risers
Nike Inc. (NKE) $137.05 4.12%
Boeing Co. (BA) $185.98 3.41%
Walt Disney Co. (DIS) $131.90 3.23%
Johnson & Johnson (JNJ) $183.08 3.05%
Intel Corp. (INTC) $47.93 2.77%
3M Co. (MMM) $150.12 2.68%
Home Depot Inc. (HD) $307.80 2.53%
Walgreens Boots Alliance, Inc. (WBA) $45.60 2.47%
International Business Machines Corporation (CDI) (IBM) $129.15 2.36%
Salesforce.Com Inc. (CRM) $191.34 2.34%
Dow Jones - Fallers
Travelers Company Inc. (TRV) $176.16 -4.89%
Chevron Corp. (CVX) $171.83 -1.18%
Merck & Co. Inc. (MRK) $85.80 -0.33%
Dowdupont Inc. (DWDP) $30.52 0.00%
Honeywell International Inc. (HON) $230.94 0.00%
Amgen Inc. (AMGN) $253.37 0.57%
Verizon Communications Inc. (VZ) $53.78 0.67%
Unitedhealth Group Inc. (UNH) $537.70 0.68%
Caterpillar Inc. (CAT) $232.16 0.97%
Coca-Cola Co. (KO) $65.07 0.98%
S&P 500 - Risers
Abiomed Inc. (ABMD) $323.42 7.27%
Citizens Financial Group, Inc. (CFG) $44.05 6.82%
Intuitive Surgical Inc. (ISRG) $294.86 6.70%
Svb Financial Group (SIVB) $537.08 6.63%
Wynn Resorts Ltd. (WYNN) $77.80 5.91%
Harley-Davidson Inc. (HOG) $40.69 5.91%
Carmax Inc. (KMX) $96.28 5.69%
American Airlines Group (AAL) $19.59 5.66%
Mattel Inc. (MAT) $23.40 5.55%
Hasbro Inc (HAS) $87.84 5.16%
S&P 500 - Fallers
DENTSPLY Sirona Inc. (XRAY) $42.20 -13.38%
Travelers Company Inc. (TRV) $176.16 -4.89%
Twitter Inc (TWTR) $46.16 -4.73%
National Oilwell Varco Inc. (NOV) $20.36 -4.01%
Pfizer Inc. (PFE) $50.18 -3.20%
Newmont Corporation (NEM) $82.87 -3.00%
CF Industries Holdings Inc. (CF) $107.00 -2.75%
Valero Energy Corp. (VLO) $107.74 -2.37%
Nektar Therapeutics (NKTR) $4.63 -2.32%
Pioneer Natural Resources Co. (PXD) $250.88 -2.28%
Nasdaq 100 - Risers
Intuitive Surgical Inc. (ISRG) $294.86 6.70%
Qurate Retail Inc. (QRTEA) $4.68 6.61%
Wynn Resorts Ltd. (WYNN) $77.80 5.91%
American Airlines Group (AAL) $19.59 5.66%
Mercadolibre Inc. (MELI) $1,130.35 5.64%
Hasbro Inc (HAS) $87.84 5.16%
Biogen Inc (BIIB) $223.02 4.93%
Align Technology Inc. (ALGN) $424.54 4.60%
Charter Communications Inc. (CHTR) $557.75 4.55%
Autodesk Inc. (ADSK) $203.80 3.69%
Nasdaq 100 - Fallers
DENTSPLY Sirona Inc. (XRAY) $42.20 -13.38%
Henry Schein Inc. (HSIC) $88.92 -1.35%
Incyte Corp. (INCY) $79.47 -1.07%
JD.com, Inc. (JD) $56.89 -1.06%
Regeneron Pharmaceuticals Inc. (REGN) $716.22 -0.97%
Vodafone Group Plc ADS (VOD) $17.20 -0.75%
Biomarin Pharmaceutical Inc. (BMRN) $80.58 -0.74%
Vertex Pharmaceuticals Inc. (VRTX) $282.52 -0.17%
Baidu Inc. (BIDU) $126.61 -0.09%
Dollar Tree Inc (DLTR) $171.87 -0.09%