The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all closed higher Tuesday as some key stocks like GE Aerospace and Spotify rose on well-received quarterly earnings.
The $Nasdaq Composite Index led the way higher, adding 245.34 points (1.6%) to a preliminary 15,696.64 close, while the $S&P 500 Index gained 59.94 ticks (1.2%) to a tentative 5,070.54 finish. The $Dow Jones Industrial Average brought up the rear, adding 263.9 points (0.7%) to a preliminary 38,503.88.
The market rose as some key players gained ground on well-received earnings. For example, $Spotify Technology (SPOT.US)$ gained 11.5% to $303.50 on well-received results, while GE Aerospace rallied 8.3% to $162.66 following its latest quarterly results.
MACRO
The S&P Manufacturing PMI came out Tuesday morning at 49.9 compared to estimates of 52. A reading below 50 points tends to indicate a contraction in the activity level of purchasing managers in the manufacturing sector.
Investors can expect two key further macro numbers this week. The government will release its latest read on Q1 gross domestic product on Thursday. And Friday, officials will release the March Personal Consumption Expenditures Price Index, which is the Federal Reserve's favorite inflation indicator.