US closes higher on strong earnings reports

Tuesday, 19. October 2021 22:01

Major equities in the United States closed higher on Tuesday, with a strong earnings report from Kering's revealing a 12.6% revenue increase following those of other major companies reported earlier and Netflix reporting at close time.

Meanwhile, the White House was satisfied with progress on supply chain disruptions with Press Secretary Jen Psaki reiterating that the issue was caused by high consumer demand. Federal Reserve Governor Christopher Waller called for tapering to start after the central bank’s November meeting.

The Dow Jones closed the session 0.56% higher, as Merck & Co Inc gained 3.03%. The Nasdaq 100 was up by 0.72% led by Baidu jumping 4.65%. The S&P 500 finished 0.74% in the green with Penn National Gaming adding 5.23%. The euro gained 0.20% against the dollar trading for $1.16365 at 3:58 pm ET.

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Author:
Baha Breaking the News (BBN) / IB