Investing.com | Oct 22, 2019 15:04
Investing.com – Wall Street opened mixed on Tuesday, with the Nasdaq leading gains after a batch of mixed earnings helped to slightly ease concerns about the impact of U.S.-China trade disputes.
The Dow was down 11 points or 0.1% by 9:49 AM ET (13:49 GMT), while the S&P 500 gained 3 points or 0.1% and the Nasdaq composited inched up 12 points or 0.2%.
Of the 75 S&P 500 companies that have reported results by Monday, over 80% had topped estimates, but threats over tariffs and slowing domestic growth remain.
Procter & Gamble gained 3.8% after its earnings beat estimates, thanks to demand for its premium beauty brands, while Biogen (NASDAQ:BIIB) surged 36.7% after it said it plans to seek Food and Drug Administration approval after positive phase 3 studies for its aducanumab drug for treating the early stages of Alzheimer's.
Harley Davidson jumped 7% after its earnings came in better than expected despite a hit to its bottom line due to slower U.S. sales and higher costs associated with European tariffs.
Elsewhere, McDonald's slipped 3.2% after missing estimates for quarterly sales at its U.S. restaurants, while Hasbro (NASDAQ:HAS) tumbled 14.6% after its earnings were hit by increased costs from tariffs on toys imported from China.
In commodities, the U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.1% to 97.178 and gold futures gained 0.2% to $1,490.85 a troy ounce. Crude oil futures jumped 1.1% to $54.09 a barrel.
-Reuters contributed to this report
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.