The Dow Jones Industrial Average climbed 659 points, or 1.3%, on Tuesday as strong earnings from Coca-Cola and Sherwin-Williams lifted blue-chip stocks while falling oil prices added support. Sherwin-Williams stock surged 8% after topping second-quarter estimates, Coca-Cola stock climbed 5% after beating on revenue and earnings and lifting its full-year guidance, and Salesforce stock also gained 5%. A broad rotation out of technology and into other sectors drove much of the day's action, with consumer-staples stocks leading the S&P 500 with a 2.7% gain. The VanEck Semiconductor ETF dropped more than 3%, marking a fourth straight session of losses for chip stocks, while West Texas Intermediate crude futures fell 5% to just above $78 per barrel. The Federal Reserve is set to announce its rate decision on Wednesday, with fed funds futures pricing in a quarter-point rate increase in September.
Advanced Micro Devices Inc
Salesforce.com Inc
Microsoft Corporation
The Coca-Cola CompanyBeat on revenue and earnings and lifted full-year guidance.
Coca-Cola Europacific Partners PLC
Sherwin-Williams CoTopped second-quarter estimates.