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U.S. stocks climbed on Tuesday as major companies continued to report strong third-quarter earnings, easing concerns that persistent Covid cases and rising costs would derail corporate America’s profit recovery.

The S&P 500 added 0.7% to 4,519.63, rising for a fifth straight day. 

The Dow Jones Industrial Average gained 198.70 points, or 0.6%, to 35,457.31. 

The Nasdaq Composite advanced 0.7% to 15,129.09.

The Dow and the S&P 500 now sit less than 1% from their respective all-time highs.

 

European markets close higher as investors digest earnings; Bachem down 10%

European stocks closed higher on Tuesday, as investors monitored corporate earnings and rising coronavirus cases in countries like the U.K.

The pan-European Stoxx 600 closed up 0.4%, with utilities adding 1.4% while food and beverage stocks fell 1%.

The tepid trade comes as U.S. stock indexes gained Tuesday as major companies continued to report strong third-quarter earnings. Both Johnson & Johnson and Procter & Gamble beat third-quarter expectations, boosting sentiment, while Netflix and United Airlines are due to report later in the day.