• The Dow Jones Industrial Average .DJI rose 55.53 points, or 0.22 percent, to end at 25,119.89, the S&P 500 .SPX gained 11.12 points, or 0.40 percent, to2,809.55 and the Nasdaq Composite .IXIC added 49.40 points, or 0.63 percent, to 7,855.12.
Wall Street stocks rose on Tuesday, with the Dow Jones Industrial Average posting its fourth consecutive session of gains after Federal Reserve Chairman Jerome Powell expressed an optimistic U.S. economic view and solid earnings bolstered the outlook for a robust reporting period.
• Analysts now see second-quarter S&P 500 earnings growth of 21.2 percent, up from 20.7 percent on July 1. Of the 39 companies in the index that have reported so far, 84.6 percent have come in ahead of Street expectations, according to Thomson Reuters data.
Earnings optimism was boosted by a report from the Federal Reserve showing an increase in U.S. industrial production led by a rebound in manufacturing.
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• Asian shares rose on Wednesday, tracking gains seen on Wall Street amid earnings season news and following upbeat remarks from Federal Reserve Chairman Jerome Powell during his congressional testimony.
In Tokyo, the Nikkei 225 rose 0.85 percent, adding to three prior consecutive sessions of gains as most sectors advanced in early morning trade. Exporters rose as the yen remained weak, with electric appliances up 1.17 percent and automakers tacking on 1.42 percent.
Over in Seoul, gains on the Kospi, which traded higher by 0.84 percent, were driven by the significant moves higher in tech stocks. Index heavyweight Samsung Electronics rose 2.29 percent and SK Hynix jumped 2.14 percent.
Reference: Reuters, CNBC
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