Stocks rally a second day | Musk’s comments boost ethereum | JPMorgan’s Dimon gets special bonus

WED, JUL 21, 2021

EVENING BRIEF

AS OF WED, JUL 21, 2021 • 05:08 ET

DJIA		34798.00
		+0.83%	+286.01

S&P 500		4358.69
		+0.82%	+35.63

NASDAQ		14631.95
		+0.92%	+133.08

Most Active

DOW
NAME	LAST	CHG	%CHG
AAPL	145.40	-0.75	-0.51%
VZ	55.95	+0.37	+0.67%
MSFT	281.40	+2.08	+0.74%

S&P 500
NAME	LAST	CHG	%CHG
CCL	23.19	+2.00	+9.44%
AAPL	145.40	-0.75	-0.51%
GE	13.08	+0.38	+2.99%

NASDAQ
NAME	LAST	CHG	%CHG
AAPL	145.40	-0.75	-0.51%
NVDA	194.10	+7.98	+4.29%
MRNA	321.11	+13.78	+4.48%

EDITOR'S NOTE

U.S. stock indexes extended their rally to close higher on Wednesday, erasing losses from Monday's sell-off.

The Dow Jones Industrial Average rose 286.01 points, or 0.83%, to 34,798.00 — less than 1% away from a record. The S&P 500 gained 0.82% to 4,358.69. The Nasdaq Composite climbed 0.92% to 14,631.95.

"U.S. equities are continuing to rebound Wednesday on the back of a solid batch of corporate earnings," Goldman Sachs' Chris Hussey said in a note.

The market barely bat an eye at last week's stellar second-quarter earnings reports, but investors appeared to reward companies with strong quarterly results this week.

Dow members Coca-Cola and Verizon both posted better-than-expected quarterly financial results before the bell Wednesday, sending their shares about 1.3% and 0.7% higher, respectively. Chipotle's stock also soared 11.5% after the restaurant chain's second-quarter earnings report Tuesday topped Wall Street estimates.

Meanwhile, Netflix shares fell about 3.3% after the streaming giant reported disappointing earnings and third-quarter subscriber guidance.

Other market movers Wednesday include stocks tied to the economic recovery that were hardest hit in Monday's sell-off. American Airlines gained roughly 4.1% and Norwegian Cruise Line jumped 10.1%.

"Q2 results from corporate America and comments from consumer companies today/this week are also hammering home the 'back-to-normal' trade," Hussey said.