Stocks rise on Wall Street as earnings reports roll in
CBSN
Stocks are rising in afternoon trading on Wall Street Tuesday as traders take in a heavy round of earnings reports from big U.S. companies.
The S&P 500 rose 49 points, or 1.3%, to 3,847 as of 2:35 p.m. Eastern. The Dow Jones Industrial Average rose 312 points, or 1%, to 31,812 and the Nasdaq rose 2%. Smaller company stocks outpaced the broader market. The Russell 2000 jumped 2.6%.
Investors are focused on the latest round of earnings reports from some big companies, which are particularly important as shareholders look for indications of inflation's impact on various industries. Prices on everything from clothing to food remain at their highest levels in four decades, putting pressure on companies to raise prices and cut costs, while squeezing consumers.
