US close: Stocks rise ahead of key inflation reading

Wall Street ended Tuesday’s session on a positive note, as investors looked to a forthcoming inflation report and the start of the second-quarter earnings season.

At the close, the Dow Jones Industrial Average was up 0.93% at 34,261.42 points, while the S&P 500 advanced 0.67% to settle at 4,439.26.

The tech-heavy Nasdaq Composite also joined the uptrend, gaining 0.55% to conclude the day at 13,760.70.

On the currency front, the dollar was last down 0.03% on sterling to trade at 77.3p, and slipped by the same margin against the common currency to 90.81 euro cents.

It also saw a slight downtick against the yen of 0.06%, last changing hands at JPY 140.27.

“Equity indices continue to cautiously regain some of last week's losses ahead of Wednesday's US inflation reading and as earnings season kicks off later in the week,” said IG senior market analyst Axel Rudolph earlier.

“Following a slump in German investor morale to a seven-month low, US small business optimism hit a seven-month high, supporting US stocks.

“Sales expectations in the US improved and fewer firms expect worse business conditions into year end.”

US small business optimism rises, UK wages surge, and German inflation jumps

On the economic front, confidence among small businesses in the US saw an upswing in June, as per the results of a survey conducted by the National Federation of Independent Business (NFIB).

Its index reflecting small business optimism surged to 91.0 in June, up from 89.4 in May, surpassing economists' forecast of an 89.9 level.

Across the Atlantic, the UK saw wage growth exceed predictions for the three months to May.

According to the Office for National Statistics (ONS), wages rose by 7.3% during the period, unchanged from the April figure.

The number, a revision up from an initial 7.2%, beat the predicted 7.1% increase, fuelling expectations for further rate hikes from the Bank of England.

Elsewhere, Germany's inflation rate experienced a significant jump in June following a series of declines in previous months.

Official data confirmed a year-on-year rise of 6.8% in consumer prices.

Core inflation, which excludes volatile items like food and energy, stood at 5.8% in June, an increase from the 5.4% rate in May.

The surge in inflation during the second quarter was primarily attributed to base effects from last year's reduced rail fares, which significantly pushed up the core rate.

Microsoft, Activision Blizzard and Boeing ride Wall Street's positive momentum

In equities, Microsoft Corporation shares edged up 0.19% as the software giant announced a round of job cuts through an internal email circulated among employees.

It was also in focus alongside Activision Blizzard, which saw its shares surge 10.02%.

The spike came after a federal judge rejected the Federal Trade Commission’s attempt to prevent Microsoft’s acquisition of the gaming company.

In the aviation sector, Boeing ascended 2.55% after it reported 135 new commercial airliner deliveries during the second quarter.

The figure brought Boeing's year-to-date total to 266 deliveries, reflecting steady progress amid a challenging climate for the sector.

Reporting by Josh White for Sharecast.com.

Dow Jones - Risers

3M Co. (MMM) $101.92 4.87%
Salesforce.Com Inc. (CRM) $221.17 3.93%
Walgreens Boots Alliance, Inc. (WBA) $30.57 2.62%
Boeing Co. (BA) $218.76 2.55%
Travelers Company Inc. (TRV) $172.36 1.95%
Chevron Corp. (CVX) $158.12 1.85%
Intel Corp. (INTC) $33.30 1.71%
American Express Co. (AXP) $174.64 1.71%
Caterpillar Inc. (CAT) $252.85 1.62%
Walt Disney Co. (DIS) $89.49 1.58%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $108.66 -1.15%
Johnson & Johnson (JNJ) $158.63 -0.55%
Procter & Gamble Co. (PG) $148.08 -0.52%
Verizon Communications Inc. (VZ) $34.99 -0.43%
Amgen Inc. (AMGN) $223.86 -0.39%
Apple Inc. (AAPL) $188.08 -0.28%
Walmart Inc. (WMT) $154.65 -0.15%
Unitedhealth Group Inc. (UNH) $462.89 -0.03%
Dowdupont Inc. (DWDP) $0.00 0.00%
McDonald's Corp. (MCD) $294.74 0.08%

S&P 500 - Risers

Activision Blizzard Inc. (ATVI) $90.99 10.02%
Apache Corp. (APA) $37.28 6.27%
HP Inc (HPQ) $33.46 6.06%
Hanesbrands Inc. (HBI) $4.80 5.96%
Nordstrom Inc. (JWN) $20.47 5.84%
Gap Inc. (GPS) $9.56 5.62%
Macerich Co (MAC) $12.11 5.21%
Electronic Arts Inc. (EA) $137.33 5.20%
National Oilwell Varco Inc. (NOV) $17.95 4.91%
3M Co. (MMM) $101.92 4.87%

S&P 500 - Fallers

Fiserv Inc. (FI) $0.00 -100.00%
VeriSign Inc. (VRSN) $213.73 -5.05%
Eli Lilly and Company (LLY) $439.39 -3.04%
Applied Materials Inc. (AMAT) $137.56 -2.13%
Carnival Corp. (CCL) $18.90 -2.07%
Advanced Micro Devices Inc. (AMD) $111.32 -1.99%
Chipotle Mexican Grill Inc. (CMG) $2,053.28 -1.90%
Royal Caribbean Cr (RCL) $101.28 -1.86%
KLA-Tencor Corp. (KLAC) $459.48 -1.75%
Mondelez International Inc. (MDLZ) $70.89 -1.68%

Nasdaq 100 - Risers

Activision Blizzard Inc. (ATVI) $90.99 10.02%
Electronic Arts Inc. (EA) $137.33 5.20%
Take-Two Interactive Software Inc. (TTWO) $150.75 4.73%
Qurate Retail Inc. (QRTEA) $1.13 4.63%
Sirius XM Holdings Inc (SIRI) $4.78 3.69%
Mercadolibre Inc. (MELI) $1,121.58 3.17%
eBay Inc. (EBAY) $46.90 2.69%
Walgreens Boots Alliance, Inc. (WBA) $30.57 2.62%
Check Point Software Technologies Ltd. (CHKP) $127.81 2.61%
J.B. Hunt Transport Services Inc. (JBHT) $185.37 2.52%

Nasdaq 100 - Fallers

Fiserv Inc. (FI) $0.00 -100.00%
Applied Materials Inc. (AMAT) $137.56 -2.13%
KLA-Tencor Corp. (KLAC) $459.48 -1.75%
Mondelez International Inc. (MDLZ) $70.89 -1.68%
Synopsys Inc. (SNPS) $438.70 -1.57%
Monster Beverage Corp (MNST) $55.53 -1.51%
Lam Research Corp. (LRCX) $619.42 -1.31%
Idexx Laboratories Inc. (IDXX) $514.82 -1.23%
Cadence Design Systems Inc. (CDNS) $231.87 -1.09%
Skyworks Solutions Inc. (SWKS) $111.19 -0.93%