U.S. stocks rebounded Tuesday, with the Dow closing at a record high, as investors cheered over positive quarterly results from notable companies.
The Dow Jones Industrial Average jumped 167.80 points, or 0.72 percent, to 23,441.76. The S&P 500 added 4.15 points, or 0.16 percent, to 2,569.13. The Nasdaq Composite Index increased 11.60 points, or 0.18 percent, to 6,598.43.
Before Tuesday's opening bell, Caterpillar Inc. announced third-quarter 2017 sales and revenues of 11.4 billion U.S. dollars, compared with 9.2 billion dollars in the third quarter in 2016, while the profit per share of the third-quarter this year was 1.77 dollars, compared with 0.48 dollar per share a year ago.
Following the release of the much-better-than-expected quarterly results, shares of the heavy-machinery manufacturer gained 4.98 percent to 138.24 dollars apiece Tuesday.
3M Company, another Dow component, also reported upbeat quarterly results Tuesday. Its shares surged 5.91 percent to 234.65 dollars apiece Tuesday after the firm's earnings beat forecasts.
The industrial, safety and consumer products company reported third-quarter earnings of 2.33 dollars per share, an increase of 8.4 percent versus the third quarter of 2016, with sales of 8.2 billion dollars, up 6.0 percent year-on-year.
The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the third quarter of 2017 are expected to rise 4.1 percent year on year, while the revenues are forecast to increase 4.5 percent.
On the economic front, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index increased from 54.8 in September to 55.7 in October, beating market consensus.
The Dow Jones Industrial Average jumped 167.80 points, or 0.72 percent, to 23,441.76. The S&P 500 added 4.15 points, or 0.16 percent, to 2,569.13. The Nasdaq Composite Index increased 11.60 points, or 0.18 percent, to 6,598.43.
Before Tuesday's opening bell, Caterpillar Inc. announced third-quarter 2017 sales and revenues of 11.4 billion U.S. dollars, compared with 9.2 billion dollars in the third quarter in 2016, while the profit per share of the third-quarter this year was 1.77 dollars, compared with 0.48 dollar per share a year ago.
Following the release of the much-better-than-expected quarterly results, shares of the heavy-machinery manufacturer gained 4.98 percent to 138.24 dollars apiece Tuesday.
3M Company, another Dow component, also reported upbeat quarterly results Tuesday. Its shares surged 5.91 percent to 234.65 dollars apiece Tuesday after the firm's earnings beat forecasts.
The industrial, safety and consumer products company reported third-quarter earnings of 2.33 dollars per share, an increase of 8.4 percent versus the third quarter of 2016, with sales of 8.2 billion dollars, up 6.0 percent year-on-year.
The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the third quarter of 2017 are expected to rise 4.1 percent year on year, while the revenues are forecast to increase 4.5 percent.
On the economic front, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index increased from 54.8 in September to 55.7 in October, beating market consensus.
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