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Stocks Close at All-Time High as Earnings Roll In: Markets Wrap

  • Profits at more than 80% of S&P 500 companies beat estimates
  • U.S. manufacturing growth eases as supply-chain issues linger
Bloomberg business news
WATCH: Kerry Craig of JPMorgan Asset Management discusses RBA policy, the global economic recovery and his outlook for markets.Source: Bloomberg
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Stocks advanced to another record as solid corporate earnings overshadowed a disappointing manufacturing report.

The S&P 500 rebounded from earlier losses, led by gains in energy and consumer-discretionary firms. The Dow Jones Industrial Average touched the 36,000 level for the first time. A gauge of small caps jumped 2.7%. Electric-vehicle giant Tesla Inc. surged amid a lithium supply deal and the start of the COP26 climate summit. In late trading, Clorox Co. climbed after the maker of cleaning products posted better-than-expected sales.