(Bloomberg) — U.S. stocks rose as investors sifted through a batch of earnings reports. Treasuries and the dollar advanced. Oil rebounded.
The S&P 500 Index traded near the 3,000 level. Boeing Co. led gains in the Dow Jones Industrial Average after mapping out a sharp boost to output of the 737 Max. Apple Inc. climbed after Morgan Stanley raised its target for the shares. Texas Instruments Inc. gave a weaker-than-expected forecast, sinking chipmakers. Caterpillar Inc. trimmed losses as its $1 billion buyback program offset a profit forecast cut.
More earnings news:
Eli Lilly & Co. slid as sales for a pair of key drugs drew criticism from Wall Street, despite an increased guidance.Chipotle Mexican Grill Inc. fell on concern over the rising cost of wages and delivery. Still, sales beat estimates.IRobot Corp. sank after cutting the high end of its revenue view.Alexion Pharmaceuticals Inc. gained after boosting its adjusted earnings per share forecast.Boston Scientific Corp. surged after raising its revenue outlook.After the market closes, EBay Inc., Microsoft Corp., Ford Motor Co., Tesla Inc. and Las Vegas Sands Corp. are due to report results.
“The momentum in earnings has slowed pretty sharply, so there’s not a lot of expectations for earnings growth,” said Kevin Caron, a senior portfolio manager at Washington Crossing Advisors. “There is clearly more evidence of concern about slowing outside the U.S.”
Elsewhere, oil climbed after a U.S. government report showed a surprise drop in crude supplies. The pound rose as the European Union considered granting another delay to the Oct. 31 Brexit deadline.
Here are some key events coming up this week:
Earnings season is in full swing with companies reporting including: Amazon.com, Daimler and Kia Motors.Thursday brings monetary policy decisions from the European Central Bank and Bank Indonesia.U.S. factory orders for business equipment will provide a look into the strength of capital investment in September. The figures will show to what extent the latest tranche of tariffs on China and others is impacting investing decisions.
These are some of the main moves in markets:
The S&P 500 Index rose 0.2% to 3,000.65 as of 11 a.m. New York time.The Dow Jones Industrial Average gained 0.2%, the Nasdaq-100 Index added less than 0.1%.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index declined.
The Bloomberg Dollar Spot Index rose 0.1% to 1,198.26.The euro dipped 0.1% to $1.1116.The British pound climbed 0.1% to $1.2888.The Japanese yen weakened 0.1% to 108.59 per dollar.
The yield on 10-year Treasuries fell two basis points to 1.75%.Germany’s 10-year yield dipped three basis points to -0.40%.Britain’s 10-year yield declined two basis points to 0.695%.
The Bloomberg Commodity Index increased 0.4%.West Texas Intermediate crude rose 1.3% to $55.19 a barrel.Gold added 0.6% to $1,496.60 an ounce.
–With assistance from Adam Haigh, Todd White and Robert Brand.
To contact the editors responsible for this story: Jeremy Herron at [email protected], Rita Nazareth