US: Stocks finish mixed as earnings season continues
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US STOCKS ended the day mixed on Tuesday (Jan 23), as corporate earnings results weighed on some companies and sent others surging.
The Dow Jones Industrial Average fell rose 0.3 per cent to 37,905.45, snapping a three-day winning streak that pushed it to record highs on Monday.
The broad-based S&P 500 closed up 0.3 per cent at 4,864.60, and the tech-heavy Nasdaq Composite Index gained 0.4 per cent to close the day at 15,425.94.
“So far for the most part earnings have been good enough,” said Steve Sosnick from Interactive Brokers, adding that results included “the usual assortment of winners and losers”.
He added it was “still early” in the season, and that more than 75 companies in the S&P 500 are due to report earnings this week, including some big tech firms.
The US conglomerate 3M was one of the day’s biggest losers, falling more than 11 per cent after reporting disappointing earnings results for the fourth quarter.
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And US defence giant RTX, formerly Raytheon, saw its share price jump 5.3 per cent after it beat expectations.
In after-hours trading, the streaming giant Netflix saw its share price jump more than 4.5 per cent after its earnings showed stronger-than-expected revenues. AFP
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