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NEW YORK U.S. stocks edged up on Tuesday to push the S&P 500 to a new high as investors digested a batch of corporate profit results, including Johnson & Johnson’s strong profit forecast and 3M’s quarterly profit beat as the pace of earnings season picks up.
3M Co climbed 3.03% as one of the biggest boosts on the Dow after it benefited from lower costs and demand for disposable respirator masks, hand sanitizers and safety glasses amid a surge in coronavirus infections.
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NEW YORK (Reuters) - The U.S. dollar edged lower across the board as traders showed a preference for riskier currencies on Tuesday, a day after worries over vaccine rollouts and the outlook for U.S. fiscal stimulus boosted demand for safe havens.
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Mounting coronavirus cases and caution ahead of the conclusion of the U.S. Federal Reserve’s policy meeting on Wednesday have dulled appetite for risk, lending support to the dollar against a basket of currencies in recent sessions. But investors were once again nibbling at riskier currencies on Tuesday.
The U.S. Dollar Currency Index was 0.22% lower at 90.143. The index rose as high as 90.614, its strongest since Jan. 20, earlier in the session.
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NEW YORK (Reuters) - The S&P and Nasdaq slipped on Tuesday from record closing levels as investors digested a batch of corporate earnings results, while an expected policy announcement from the Federal Reserve on Wednesday helped to limit moves.
3M Co climbed 3.26% as one of the biggest boosts on the Dow after it benefited from lower costs and demand for disposable respirator masks, hand sanitizers and safety glasses amid a surge in coronavirus infections.
Johnson & Johnson also provided a strong lift, up 2.71% as the drugmaker said it expected to report eagerly awaited COVID-19 vaccine data early next week.
US stocks edged up on Tuesday to push the S&P 500 to a new high as investors digested a batch of corporate profit results, including Johnson & Johnson s strong profit forecast and 3M s quarterly profit beat as the pace of earnings season picks up. 3M Co climbed 3.03% as one of the biggest boosts on the Dow after it benefited from lower costs and demand for disposable respirator masks, hand sanitizers and safety glasses amid a surge in coronavirus infections. Also providing a strong lift was Johnson & Johnson, which added 2.52%, as the drugmaker also said it expected to report eagerly awaited COVID-19 vaccine data early next week.
Gold Futures Settle Lower For 4th Straight Day
WASHINGTON (dpa-AFX) - Gold futures ended weak on Tuesday, extending losses to a fourth straight session, as traders awaited the Federal Reserve s upcoming monetary policy announcement.
A weak dollar limited the yellow metal s slide. The four-session losing streak is the longest for gold futures since April 2020.
The dollar index, which rose to 90.61 in the Asian session amid rising tensions between the U.S. and China, retreated soon and then kept sliding to hit a low of 90.12 in late morning trades, before edging up a bit to 90.19. It was still down by about 0.22% from previous close.