Stocks Ended Higher amid Earnings, Stimulus Talks

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%.