Stocks Rally on Earnings, China Trade Optimism: Markets Wrap
- Tech shares drop after hours on report of DOJ investigation
- Coca-Cola, United Technologies post earnings beats; oil rises
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U.S. stocks closed higher, sending the benchmark S&P 500 Index back above the 3,000 level, as investors assessed a batch of strong earnings and signs of progress in trade talks with China. Treasuries fell and the dollar rose.
After the market closed, shares of Amazon, Alphabet and Facebook declined more than 1% after Dow Jones reported that the Justice Department is opening a broad antitrust review into whether dominant technology firms are unlawfully stifling competition. In major earnings, Texas Instruments rose after the company gave stronger-than-predicted sales and profit forecasts for the current quarter. Chipotle rose as sales beat estimates.