- Stocks rise after Dow's recovery
- Crude expands profits due to supply concerns
- The pound slips after cabinet resignations
United States. Stocks rose on Tuesday, putting major indexes on track for their seventh earnings session in the last eight trading days, as investors looked ahead to what is expected to be another strong corporate earnings season.
The Dow Jones industrial average rose 95 points, or 0.4%, to 24871, while the S & P 500 added 0.2% and the Nasdaq compound rose less than 0.1%. The blue-chip index had its best day in a month on Monday, and all three indices have risen in recent sessions, despite uncertainty about commercial threats to China.
Many investors are looking towards the second quarter earnings season, which begins unofficially on Friday when three of the largest banks in the US. UU They report the results. Profits for companies in the S & P 500 are expected to grow 20% in the second quarter from the same period of the previous year, according to FactSet.
Shares of energy companies in the S & P 500 led the broader index, up 1.4% as the price of US crude rose 1% to $ 74.61 a barrel. The only sectors in the red were real estate and public services, which are seen as bonds due to their relatively high dividend payments.
Investors this week have minimized recent trade tensions between the US UU And China after the first round of tariffs went into effect on Friday. The lack of major business news over the weekend has made investors more optimistic, at least in the short term, according to Chris Teschmacher, a multiaspect portfolio manager at Legal & General Investment Management.
"If there is no increase in commercial war, then the current level of tariffs is quite minimal" in relation to the economy, "said Mr. Teschmacher.
While trade disputes by themselves may not be fatal to the global economy, the addition of a restrictive monetary policy of the Federal Reserve and political uncertainty in Europe worsen the risk situation, said Ronald Temple, head of US stocks and co-director of investments multibadet in Lazard Asset Management.
"One puts all these factors in common and I think they eliminate the foundations of the corporation's confidence and consumer confidence," said Temple.
In Europe, the Stoxx Europe 600 recently climbed 0 , 5% The Shanghai Composite Index of China rose by 0.4%, while the Nikkei of Japan rose by 0.7% and Kospi of South Korea rose by 0.4%.
-Allison Prang contributed with this article.