:max_bytes(150000):strip_icc()/GettyImages-2159946636-768ed29d9a1644f585524b7934ef1898.jpg?w=1024&resize=1024,1024&ssl=1 "UnitedHealth, PNC, Charles Schwab, and More")
Key Takeaways
- The Dow reached a record high in intraday trading Tuesday following several better-than-expected earnings reports.
- UnitedHealth Group led gains on the Dow after the health insurance provider beat profit forecasts.
- PNC shares also rose as the bank reported results that exceeded estimates.
The Dow climbed to a record high in intraday trading Tuesday following several better-than-expected earnings reports, while the S&P 500 also gained, and the Nasdaq was slightly lower.
UnitedHealth Group (UNH) led gains on the Dow after the health insurance provider beat profit forecasts as it posted higher revenue from its Optum health care unit.
Shares of PNC Financial Services Group (PNC) also rose as the bank reported results that exceeded forecasts and gave a stronger full-year outlook for net interest income (NII).
Match Group (MTCH) shares took off after it was revealed activist investor Starboard Value has taken a 6.6% stake in the operator of online dating services, and is calling for the company to explore a sale.
Shares of firms in the housing sector, including Pultegroup (PHM), Builders FirstSource (BLDR), and Home Depot (HD), advanced amid rising optimism the Federal Reserve will cut interest rates this year, boosting home sales.
Charles Schwab (SCHW) shares tumbled as the investment and stock trading provider said it would have to downsize to maintain profitability.
The price of gold rose to a record high, while oil futures fell. The yield on the 10-year Treasury note declined. The dollar was up on the euro, pound, and yen. Most major cryptocurrencies traded higher.
TradingView
Source link