US stocks end higher as investors welcome 2nd quarter earnings reports

US stocks end higher as investors welcome 2nd quarter earnings reports

Nasdaq up by over 3%

By Gokhan Ergocun

ISTANBUL (AA) - US stocks ended sharply higher Tuesday as investors welcomed a series of company earnings reports.

Johnson & Johnson reported second quarter earnings that beat analysts’ estimates, although it cut its full-year sales and profit outlook due to a stronger US dollar.

Netflix lost around 970,000 subscribers in the second quarter, fewer than the 2 million it had previously projected for the period. The company expects to add around 1 million net new subscribers in the third quarter.

The blue-chip Dow Jones Industrial Average soared 754.44 points, or 2.43% to 31,827.05.

The S&P 500 jumped by 105.84 points, or 2.76%, to 3,936.69.

The tech-heavy Nasdaq gained 353.10 points, or 3.11%, to 11,713.15.

The VIX volatility index, also known as the fear index, fell 3.16 to 24.5.

The 10-year US Treasury yield increased 2.31% to 3.028%.

The dollar index was down 0.64% to 106.54.

Precious metals declined, with gold losing 0.03% to $1,709.70 an ounce and silver falling 0.8% to $18.68.

Global benchmark Brent crude was at $107.30 per barrel, while US benchmark West Texas Intermediate (WTI) crude was at $100.40.

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