Stocks climb on solid earnings
The Dow and US stocks are trading higher on Tuesday as global markets are in the green across the board.
The Dow is up 0.3%, or 67 points, in the second half of the trading day, while the S<><><><><><><><><><><>&P 500 and Nasdaq Composite are up 0.3% and 0.1%, respectively./ppThe positive momentum comes on the back of better-than-expected corporate earnings. The US earnings calendar is packed on Tuesday, including Coca-Cola and Lockheed Martin, which reported before the open. After the bell, earnings of Visa, Chipotle and Snap are due./ppThe deal between Congress and President Donald Trump to avoid a budget showdown and expand the debt ceiling is also helping sentiment. On top of that, the Fed’s expected rate cut next week is also lending support to stocks./ppHowever, stock gains might be limited ahead of Friday’s second quarter US GDP report, as investors wait and see how the American economy performed last quarter./ppElsewhere, the British FTSE 100 closed 0.6% higher, while the a href=”https://www.cnn.com/2019/07/23/investing/boris-johnson-brexit-pound/index.html” target=”_blank”British pound is down 0.3%/a at $1.2442 after Boris Johnson won the Conservative leadership contest in the UK. He will replace Theresa May as Prime Minister when she steps down on Wednesday./p