US stocks surged on Tuesday as investors digest a wave of first-quarter corporate earnings results.
According to Fundstrat, of the 42 S&P 500 companies that have reported so far, overall profits are beating estimates by a median of six percent. The med-tech division of Johnson & Johnson saw accelerated growth in the quarter. The healthcare giant raised its dividends.
The price of oil fell more than 5% on Tuesday after the International Monetary Fund cut its global GDP growth forecasts for the next two years.
At 4:00 p.m., the US indexes stood here. The close is on Tuesday.
Evercore ISI said that strong corporate earnings will show that the economy is not headed towards a recession. The firm expects the stock market to rise in the years to come.
You think about a year like 1994, which is a lot of the comparison, and actually the last year, the only year in the last 40 when both stocks and bonds were down for the whole year, as they are sitting here in mid April.
James Bullard, a Federal Reserve official, said he wouldn't rule out a 75-basis-point interest-rate hike from the US central bank this year.
Russian oil exports have plummeted over the last week, giving Putin less revenue as he launches a new offensive against Ukraine. The week leading up to April 15 had $181 million in oil revenue, compared to $240 million the week before.
The price of West Texas Intermediate crude oil fell as much as 5%. The price of oil fell as much as 5.8%) to $107.18.
There was a 1.94% rise in the price of the digital currency. The price of ether rose to $3,113.
The price of gold fell as much as 1.91%. The yield on the 10-year Treasury went up.
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