U.S. stocks ended modestly higher on Tuesday, with investors keeping an eye on mixed corporate earnings and stimulus talks in Washington. The Dow Jones Industrial Average rose 164.07 points, of 0.62%, to 26,828.47. The S&P 500 was up 11.90 points, or 0.36%, to 3,306.51. The Nasdaq Composite gained 38.37 points, or 0.35%, to 10,941.17.
Oil futures reversed early losses, ending higher Tuesday as traders awaited data on U.S. crude inventories. West Texas Intermediate crude for September delivery rose 69 cents, or 1.7% to finish at $41.70 a barrel. October Brent crude ended with a gain of 28 cents, or 0.6%, at $44.43 a barrel.
Beyond Meat second quarter earnings meet expectations. Beyond’s U.S. retail sales surged 194.9% from a year ago and by 166.7% overseas. Net sales came to $113.3 million versus estimates for $99 million.
Walt Disney Co. reported a quarterly loss of nearly $5 billion Tuesday due to a pandemic. Disney (DIS) reported a fiscal third-quarter loss of $4.72 billion, or $2.61 a share, compared with net income of 79 cents a share in the year-ago quarter. Revenue plunged 42% to $11.78 billion from a record $20.25 billion a year ago.
Fox Corp. reported lower profit for its latest quarter, hit by a fall in advertising revenue amid a pandemic-related pullback in live sporting events. Fox said Tuesday revenue dropped 3.8% to $2.42 billion from a year earlier, hurt by advertising revenue which fell 7.6%.
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