Stocks Ended Mostly Higher amid EU Fiscal Stimulus

U.S. stocks finished mostly higher on Tuesday, after European Union leaders agreed to a breakthrough fiscal stimulus deal to help support the virus-stricken region. The Dow Jones Industrial Average advanced 159.53 points, or 0.60%, to 26,840.40. The S&P 500 rose 5.46 points, or 0.17%, to 3,257.30. The Nasdaq Composite fell 86.73 points, or 0.81%, to 10,680.36.

Oil futures ended sharply higher on Tuesday, as markets grow more positive about the world’s ability to address the COVID-19 pandemic which has crushed demand for crude and its byproducts. West Texas Intermediate crude for August delivery rose $1.15, or 2.8%, to settle at $41.96 a barrel. September Brent crude climbed by $1.04, or 2.4%, at $44.32 a barrel.

Texas Instruments Inc. (TXN)’s earnings and outlook topped Wall Street estimates. The company reported second-quarter net income of $1.38 billion, or $1.48 a share, compared with $1.31 billion, or $1.36 a share, in the year-ago period. Revenue declined to $3.24 billion from $3.67 billion in the year-ago quarter.

Snap Inc.’s losses widened in the second quarter as Snapchat’s parent company dealt with the effects of the COVID-19 pandemic. The company said it lost $326 million, or 23 cents a share, compared with a loss of $255.2 million, or 19 cents a share, in the year-ago quarter. Revenue improved 17% to $454 million from $388 million a year ago.