Yahoo Finance Stocks - Wall Street Inches Up After Twitter, Hasbro Earnings
Investing.com – Wall Street was up slightly on Tuesday, even as Twitter, Hasbro and other companies posted better-than-expected earnings.
The S&P 500 rose 3 points or 0.1% by 9:37 AM ET (13:37 GMT), while the Dow was up 24 points or 0.1% and the tech-heavy Nasdaq composite gained 17 points or 0.2%.
Twitter (NYSE:TWTR) gained 7.7% after it reported a surprising increase in the number of monthly users, while Hasbro (NASDAQ:HAS) jumped 12.5% on higher earnings driven by a rise in franchise brand revenue. Coca-Cola (NYSE:KO) inched up 0.6% on an expansion in organic sales, while Lockheed Martin (NYSE:LMT) beat expectations, leading to a stock price gain of 3.3%
"It's still expected to be a challenging quarter for the corporates, but the bar has been sufficiently lowered which may allow them to get through the season relatively unscathed," Craig Erlam, senior market analyst at Oanda, said.
"The lack of direction at the start of the week isn't surprising given the quiet bank holiday weekend."
Procter & Gamble Company (NYSE:PG) fell 2.3% even as it posted its strongest sales growth in eight years, while Verizon (NYSE:VZ) slipped 2.4% despite raising its full-year EPS guidance to low single digit percentage growth from flat and reiterating its full year sales growth outlook.
Energy stocks were flat even as oil surged after the White House confirmed it is ending waivers for countries previously allowed to trade with Iran despite sanctions. Crude oil rose 0.6% to $65.97 a barrel.
Gold futures fell 0.6% to $1,269.35 a troy ounce while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.4% to 97.345.
-Reuters contributed to this report.
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