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Oct. 19, 2021, 6:26 p.m. EDT

S&P 500 rises for fifth straight day as stocks end higher after upbeat earnings

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By Christine Idzelis and William Watts

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Read: A ‘spot’ bitcoin ETF ‘ain’t so great’, says ProShares strategist ahead of provider’s futures-linked fund

Also see: The 2 reasons bitcoin could surge by 170% to $168,000 by year-end as crypto-linked ETFs roll out

“That whole thing baffles us,” Sandi Bragar, managing director of planning strategy and research at wealth manager Aspiriant, told MarketWatch Tuesday, referring to the crypto craze. Even if “we love the technology” involved with it, Bragar said that she doesn’t recommend cryptocurrency to her clients.

She also expressed caution about the U.S. stock market, saying “we’ve been much more bullish on international investing overall” while preferring value-oriented bets across the board.

“There’s a bit of a party now that September’s over ,” Bragar said. “The market is like a helium- filled balloon — it just wants to keep going up.”

Which companies were in focus?

  • Johnson & Johnson shares rose 2.3% after the drugmaker said it brought in $502 million in worldwide sales of its COVID-19 vaccine in the third quarter of 2021.

  • Shares of Procter & Gamble fell 1.2% after the consumer packaged goods company reported fiscal first-quarter profit that fell versus last year , but topped forecasts for earnings and sales while maintaining its full-year guidance.

  • Travelers Cos. Inc. delivered results that beat estimates. Shares of the insurer increased 1.6%.

  • Apple Inc. /zigman2/quotes/202934861/composite AAPL -1.89% shares rose 1.5%, a day after unveiling new Mac personal computers featuring the company’s custom chips and an upgraded set of AirPods to fill out its holiday lineup .

  • Shares of Tesla Inc. /zigman2/quotes/203558040/composite TSLA -1.82% slipped 0.7% Tuesday, the day before it is slated to report third-quarter results. The stock had rallied 10.8% over the past six sessions, closing Monday at its highest price since Feb. 2, and just 1.5% below the Jan. 26 record close of $883.09.

  • Philip Morris International Inc. /zigman2/quotes/201611010/composite PM -1.60% shares declined 1.7% after the cigarette and tobacco company reported third-quarter profit and revenue that rose above expectations as overall shipment volume increased. 

  • Shares of Kansas City Southern edged up less than 0.1% after the railroad operator reported third-quarter profit that fell short of expectations .

What did other markets do?

  • The yield on the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.63% rose about 5 basis points to 1.634%. Yields and debt prices move in opposite directions.

  • The ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY +0.03% , a measure of the currency against a basket of six major rivals, fell 0.2%.

  • Oil futures finished higher , with the U.S. benchmark /zigman2/quotes/209723049/delayed CL00 +1.65% climbing 0.6% to settle at $82.96 a barrel. Gold futures /zigman2/quotes/210034565/delayed GC00 -0.03% ended higher, rising 0.3% to settle at $1,770.50 an ounce.

  • The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.97% closed 0.3% higher, while London’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.63% rose 0.2%.

  • The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.17% rose 0.7%, while the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.14% gained 1.5% in Hong Kong. Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -1.85% advanced 0.7%.

—Steve Goldstein contributed to this report.

/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 169.80
-3.27 -1.89%
Volume: 91.17M
Jan. 18, 2022 4:00p
P/E Ratio
30.28
Dividend Yield
0.52%
Market Cap
$2826.99 billion
Rev. per Employee
$2.38M
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 1,030.51
-19.10 -1.82%
Volume: 22.33M
Jan. 18, 2022 4:00p
P/E Ratio
333.67
Dividend Yield
N/A
Market Cap
$1054.09 billion
Rev. per Employee
$662,097
loading...
/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 101.73
-1.65 -1.60%
Volume: 7.12M
Jan. 18, 2022 4:00p
P/E Ratio
17.69
Dividend Yield
4.91%
Market Cap
$160.94 billion
Rev. per Employee
$432,704
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.89
+0.01 +0.63%
Volume: 0.00
Jan. 18, 2022 9:08p
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/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
95.76
+0.02 +0.03%
Volume: 0.00
Jan. 18, 2022 8:59p
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 86.23
+1.40 +1.65%
Volume: 21,149
Jan. 18, 2022 8:59p
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/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,811.90
-0.50 -0.03%
Volume: 4,989
Jan. 18, 2022 8:59p
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
479.79
-4.72 -0.97%
Volume: 0.00
Jan. 18, 2022 11:03p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,563.55
-47.68 -0.63%
Volume: 747,547
Jan. 18, 2022 4:58p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,563.71
-6.20 -0.17%
Volume: 10.43B
Jan. 19, 2022 9:54a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,147.16
+34.38 +0.14%
Volume: 316,729
Jan. 19, 2022 9:54a
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
27,733.62
-523.63 -1.85%
Volume: 0.00
Jan. 19, 2022 10:49a
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