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Stocks Rise After Earnings; Treasuries Erase Gains: Markets Wrap

  • Tesla surges in after-hours trading on a surprise profit
  • Ford slumps in extended trading after cutting its guidance
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Bloomberg Market Wrap 10/23: Bitcoin Drops, Tesla, Freeport
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U.S. stocks rose as investors sifted through a batch of earnings reports. Benchmark Treasuries erased gains.

The S&P 500 Index closed above 3,000, with Apple Inc. rallying to a record as Morgan Stanley raised its target for the shares. Boeing Co. drove the Dow Jones Industrial Average higher after mapping out a sharp boost to the 737 Max plane’s output. Caterpillar Inc. climbed as traders welcomed its move to cut production. The Philadelphia Semiconductor Index tumbled almost 2% on Texas Instruments Inc.’s weaker-than-expected forecast.