Stocks Ended Higher after Strong Earnings

U.S. stocks ended higher on Tuesday after a fresh round of corporate earnings. The Dow Jones Industrial Average rose 112.86 points, or 0.57%, to 19,912.71. The S&P 500 gained 14.87 points, or 0.66%, to 2,280.07. The Nasdaq Composite added 48.01 points, or 0.86%, to 5,600.96.

Oil futures inched higher Tuesday as traders continued to weigh the outlook for global crude production. March West Texas Intermediate crude rose 43 cents, or 0.8%, to settle at $53.18 a barrel. March Brent crude added 21 cents, or 0.4%, to $55.44 a barrel.

Seagate Technology (STX) posted better-than-expected earnings. Seagate reported its fiscal second-quarter earnings nearly doubled to $297 million, or $1 a share, from $165 million, or 55 cents a share, a year earlier. Revenue slipped to $2.89 billion versus $2.99 billion.

Verizon Communications Inc. posted another decline in revenue amid a continued drop-off in subscriber additions. For the latest quarter, revenue slipped 5.6% to $32.34 billion. It posted a profit of $4.5 billion, or $1.10 a share, down from $5.39 billion, or $1.32 a share, a year earlier.

President Donald Trump on Tuesday signed executive actions to advance approval of the Keystone XL and Dakota Access oil pipelines.

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