It was a good day on Wall Street which boosted investors' hopes after a series of positive corporate results.

It%20was%20a%20good%20day%20on%20Wall%20Street%20which%20boosted%20investors%27%20hopes%20after%20a%20series%20of%20positive%20corporate%20results.
source: remonews.com

It was a good day on Wall Street which boosted investors' hopes after a series of positive corporate results.

Despite concerns about a possible tightening monetary policy, higher-than-expected gains from large companies propel the market to new heights.

On Tuesday, Wall Street closed in the green, and its leading indicator, the Dow Jones Industrials, rose 0.56%, with the market encouraged by the quarterly results.

At the end of the New York Stock Exchange operations, the Dow Jones added 198.70 points, standing at 35,457.31, while the selective S&P 500 rose 0.74% or 33.17 units, to 4,519.63. The Nasdaq market's composite index, which includes leading technology companies, rose 0.71 percent or 107.28 integers to 15,129.09.

The New York stock market went through a day of optimism after better-than-expected results from Johnson & Johnson and Procter & Gamble.

The data that companies are releasing seems to ease fears about coronavirus outbreaks and supply problems on the economic recovery.

"We're starting to see higher earnings for the third quarter, and so far everything is going well," said Tom Henlin, National Investment Strategist at US Bank Wealth Management. So far, the results are coming in, and our prospects haven't diminished significantly.

This afternoon at the close, the figures from the technology giant Netflix (0.16%) and the airline United Airlines (-2.01%) were expected, to which investors will foreseeably react tomorrow.

By sectors, the highest gain was for health companies (1.31%), public services (1.26%), and energy (1.14%), while only non-essential goods fell (-0.29% ).

Among the 30 listed on the Dow Jones, the advance of MSD (3.03%) and Johnson & Johnson (2.34%), and Walmart (2.12%) stood out. In red, the most affected were Procter & Gamble (-1.18%) and Nike (-1.01%)

In other markets, Texas oil rose to $ 82.96 a barrel, and at the close of Wall Street, the yield on the 10-year Treasury bond rose to 1.637%, gold rose to $ 1,769.70 an ounce. The dollar fell against the euro, with a change of 1.1634.

"There was nervousness as we started to see some disruptions in the supply chain," said JJ Kinahan, chief strategist at TD Ameritrade. "But the overall picture is still pretty positive ."

He said these supply chain problems would have different impacts on companies and industries, including how they absorb costs and if prices go up. For example, Procter & Gamble fell 1.2% after stating that it would raise prices as it faces higher raw materials and freight costs.

So far, however, rising oil prices and other costs have not severely affected companies' profit margins.