Earnings Gains Drive Stocks Higher

Dow ends day up 172
By Newser Editors and Wire Services
Posted Feb 5, 2019 3:16 PM CST
Earnings Gains Drive Stocks Higher
Trader Andrew Silverman works on the floor of the New York Stock Exchange, Tuesday, Feb. 5, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing broadly higher on Wall Street as strong earnings reports from several US companies put investors in a buying mood, the AP reports. Estee Lauder jumped 11.6% and Ralph Lauren climbed 8.4% Tuesday. Both reported earnings that came in well ahead of what analysts were expecting. Viacom, an entertainment company that owns Comedy Central and Paramount Pictures, rose 3% after reporting results that also beat analysts' estimates. The S&P 500 index rose 12 points, or 0.5%, to 2,737. The Dow Jones Industrial Average climbed 172 points, or 0.7%, at 25,411. The Nasdaq added 54 points, or 0.7%, to 7,402. (Read more stock market stories.)

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