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The Dow Jones Industrial Average rose 190 points as U.S. stocks looked set to inch higher amid robust earnings reports from Coca-Cola and GM.<\/p>\n
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U.S. stocks were largely unchanged, but the Dow Jones Industrial Average showed a positive outlook with gains of 190 points. Meanwhile, the S&P 500 and Nasdaq Composite both hovered near the flatline, with the benchmark S&P 500 posting slight gains of 0.02% while the Nasdaq shed 0.1%.<\/p>\n
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While the overall performance for U.S. stocks was subdued, equities were mostly bullish.<\/p>\n
A lot of the upbeat sentiment relates to an earnings boost, with General Motors, Coca-Cola, and 3M all gaining amid better-than-expected earnings reports. GM\u2019s stock soared more than 14% after its earnings report, while COKE edged up.<\/p>\n
U.S. regional lender Zions Bancorp also showed resilience with an early 3% share price increase, after a major selloff stemming from a $50 million investment writeoff.<\/p>\n
Investors are also likely to flip to full-on bullish mode as anticipated earnings beats by industry giants such as Tesla, Netflix, and others add to the strong pace that analysts are pointing to for the third-quarter earnings season.<\/p>\n
Notably, investors expect a bumper earnings season for major tech companies, including a 14.9% spike in year-over-year earnings. Per FactSet, the 493 other companies in the S&P 500 are expected to see a 6.7% jump in earnings.<\/p>\n
Gains for the Mag Seven might trigger an overall bullish trend for stocks.<\/p>\n
This, combined with potential thawing trade war jitters, will help risk assets. Federal Reserve\u2019s interest rate decision in the coming days, despite the ongoing U.S. government shutdown, could also be a major tailwind for the market.\u00a0<\/p>\n
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