US stocks closed higher for the third straight session as a strong start to earnings overcame lingering US-China trade uncertainty. The Dow Jones Industrial Average rose 240 points to a record high, while the S&P 500 and Nasdaq Composite Index closed slightly higher as a string of results that beat expectations boosted gains.
General Motors jumped 16% after raising its forecast, Coca-Cola gained 3.8% on steady beverage demand and benefits from an Indian bottling deal, and 3M rose 6.3% after beating estimates. Defense and aerospace stocks outperformed, with GE Aerospace rising 1.3% and Raytheon rising 8.2% on strong orders and assurances of critical mineral supplies.
Danaher rose 6.6% after beating Q3 revenue and profit expectations, while Warner Bros. Discovery surged 13.7% on reports that it is exploring a sale. More than three-quarters of companies reporting results so far have beaten estimates, underpinning the rally, although next Friday's CPI data and the ongoing US data blackout remain key market risks. (alg)
Source: Trading Economics
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