Stocks sweep higher on Wall Street as profit reports roll in

A court agreed to a lawsuit between Elon Musk and Twitter
Financial Markets Wall Street
Posted at 3:28 PM, Jul 19, 2022

Wall Street rallied on Tuesday to its best day in three weeks as more reports poured in on how much profit companies made during the spring.

The S&P 500 rose 2.8% after a powerful tide carried 99% of the stocks in the index upward. The Dow added 2.4% and the Nasdaq rose 3.1%. Small-company stocks rose even more, pushing the Russell 2000 index up 3.5%.

More types of companies are reporting how much they earned during the spring, broadening out from the banks that dominated the earliest part of the reporting season. Hasbro and Halliburton rose after reporting stronger profits than analysts expected.

As the Associated Press reported, Twitter rose 2.7% after a court in Delaware agreed to quickly schedule a lawsuit that could force billionaire Elon Musk to make good on his agreement to buy the company.