Stock Jumps 11% After UPS Delivers Good News

It was S&P 500's best performer Tuesday
By Newser Editors and Wire Services
Posted Apr 27, 2021 3:49 PM CDT
UPS Jumps More Than 10% After Surge in Volume, Profits
Investors expect US corporate results due out this week to show stronger profits as coronavirus vaccines are rolled out and as consumer spending strengthens.   (AP Photo/Seth Wenig, File)

Major US stock indexes ended a wobbly day mixed on Wall Street, keeping the S&P 500 near the record high it set a day earlier. The benchmark index ended down less than one point Tuesday and the Dow Jones Industrial Average closed basically unchanged. It’s a heavy week for earnings reports from big US companies. Investors will also be watching for news out of the Federal Reserve on Wednesday after its two-day meeting, as well as President Biden’s speech to a joint session of Congress, the AP reports. The S&P 500 fell 0.9 points, or less than 0.1%, to 4,186.72. The Dow Jones Industrial Average rose 3.36 points, or less than 0.1%, to 33,984.93. The Nasdaq fell 48.56 points, or 0.3%, to 14,090.22.

Shares in technology, communication, health care, and other companies fell, keeping gains in banks and elsewhere in the market in check. UPS vaulted 11.3% for the biggest gain in the S&P 500 after reporting another surge in delivery volumes as well as profits that came in well ahead of what investors were expecting. Tesla, whose stock has been soaring over the past year, fell 4.1% despite reporting stronger sales of electric vehicles. General Electric fell 1% after the troubled industrial giant reported a double-digit drop in revenue and a quarter loss, as the company continues to struggle in its turnaround plan. GE's stock has been volatile this year, soaring as much as 80%.

(Read more stock market stories.)

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