Wall Street closed higher after Verizon and other big companies reported fatter profits for the summer than expected.
The S&P 500 rose 0.7% Tuesday. The Dow added 204 points, and the Nasdaq composite climbed 0.9%.
The pace is picking up for profit reports, and the hope is that companies in the S&P 500 will report their first growth in a year. Such strength is crucial for the stock market, which has slumped under the weight of higher bond yields.
The 10-year Treasury yield slipped a day after reaching another 16-year high. Crude oil prices tumbled again.
On Tuesday:
The S&P 500 rose 30.64 points, or 0.7%, to 4,247.68.
The Dow Jones Industrial Average rose 204.97 points, or 0.6%, to 33,141.38.
The Nasdaq composite rose 121.55 points, or 0.9%, to 13,139.87
The Russell 2000 index of smaller companies rose 13.62 points, or 0.8% to 1,679.50.
For the week:
The S&P 500 is up 23.52 points, or 0.6%.
The Dow is up 14.10 points, less than 0.1%.
The Nasdaq is up 156.07 points, or 1.2%
The Russell 2000 is down 1.29 points, or 0.1%.
For the year:
The S&P 500 is up 408.18 points, or 10.6%.
The Dow is down 5.87 points, less than 0.1%.
The Nasdaq is up 2,673.39 points, or 25.5%
The Russell 2000 is down 81.74 points, or 4.6%.
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