The Dow Jones Industrial Average increases 237 points
Dow sets 237.44 points, or 0.89%, to close at 27,024.80. The S&P 500 gained 1% to end the day at 2,995.68. The Nasdaq Composite rose 1.24% to 8,148.71. Investors cheered for a number of better-than-expected revenues. Quarterly.
Earnings lead the charge while trade talks take a back seat
J.P. Morgan Chase, UnitedHealth and Johnson & Johnson were among the companies whose results drove the largest stock indices higher. J.P. Morgan had record revenue for the previous quarter, with CEO Jamie Dimon highlighting the strength of the US consumer. Pharmacy revenue benefits boosted UnitedHealth's bottom line while strength in prescription drugs boosted Johnson & Johnson's results. Most importantly, this string of positive results distracted investors from the persistent uncertainties surrounding the US-China trade talks.
JP Morgan rises at all times, UNH surges
J.P. Morgan Chase shares jumped 3.01
What happens next?
Wall Street's focus will largely remain on the company's earnings. Bank of America, Abbot Laboratories, Netflix and IBM are among the companies to report Wednesday. Retail sales data has also been released Wednesday morning. Read more here.
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