The Dow notched a record close Tuesday, led by a rally in major names including Coca-Cola and 3M following better-than-expected results, though a fall in Alphabet kept gains in check.
At 4:00 p.m. ET (20:00 GMT), the Dow Jones Industrial Average climbed 218 points, or 0.5% to a record close of 46,924.68, while the S&P 500 index fell 0.01%, and the NASDAQ Composite slipped 0.2%.
Coca-Cola, 3M shine on earnings stage 271|Coca-Cola (NYSE:KO)} } stock gained after the soft drinks giant posted third-quarter adjusted profit and revenue ahead of expectations, even as it described the overall operating environment as "challenging."
3M Company (NYSE:MMM) hiked its annual earnings, margin guidance after reporting strong quarterly results, sending its share price up more than 5%.
Rtx Corp (NYSE:RTX) stock surged after the U.S. aerospace and defense firm lifted its full-year outlook after reporting third-quarter results that topped market expectations driven by strong demand for its missiles and aftermarket services.
GE Aerospace (NYSE:GE) stock gained after the aircraft engine supplier raised its 2025 profit forecast, projecting a strong finish to the year on robust demand for aftermarket maintenance services due to a shortage of new jets.
Halliburton (NYSE:HAL) stock surged after the company beat estimates for third quarter profit, helped by steady demand for its oilfield equipment and services in North America.
Beyond Meat (NASDAQ:BYND) stock soared after the company announced it would expand distribution of select plant-based meat products to over 2,000 Walmart stores nationwide.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Also of interest, Zions Bancorporation (NASDAQ:ZION) reported stronger-than-expected quarterly earnings after the close Monday, helping to calm nerves around the health of U.S. regional banks.
Last week, Zions had flagged a $50 million charge-off linked to two loans under fraud investigation and increased its reserves for credit losses.
Alphabet slips on concerns about web browser competition from OpenAI Alphabet Inc Class A (NASDAQ:GOOGL) fell more than 3% to keep gains in the broader market in check after OpenAI unveiled a new AI-powered web browser dubbed ChatGPT Atlas.
The move marked a step up in web browser competition following Perplexity’s launch of its Comet browser.
Optimism over shutdown, trade talks Investors have welcomed signs of resilience in the financial sector, after last week’s worries about the health of the regional banking sector, while upbeat remarks from a White House adviser helped fuel hopes that Washington’s partial shutdown could soon be resolved.
Kevin Hassett, a White House economic adviser, told CNBC on Monday that the government shutdown “is likely to end sometime this week,” comments that boosted risk appetite after weeks of political gridlock had weighed on confidence and delayed key economic data.
Optimism surrounded the U.S.-China trade fight also helped the tone, with President Donald Trump and Chinese counterpart Xi Jinping set to meet in South Korea later this month.
